(MENAFN) Austria's Signa announced that it has bought several buildings in Germany from Highstreet Holdings in a deal that exceeded USD1.45 billion, reported Reuters.
The property developer said that the buildings are used by Karstadt's 17 department stores.
Furthermore, one of the buildings is home to Germany's iconic KaDeWe department store in Berlin.
Signa Holding, which is the investment arm of property investor Rene Benko, added that the buildings have a long-term lease with Karstadt.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.