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Industry News

Austrian investor earmarks $1.1 billion for U.S. properties

November 5, 2019

Austrian investment firm Signa Holding, which recently bought half of New York City’s landmark Chrysler Building, is looking for urban retail investments to add to its $22 billion portfolio.

“We want to invest more intensely in the U.S. in the next two years,” said Signa Holding founder René Benko, as reported in Reuters.

Signa has amassed $1.1 billion for the cause, which will focus more on urban opportunities than on suburban malls, Benko said. “We are optimistic that inner cities will flourish in the next few years.”

The firm already owns Berlin’s KaDeWe (Kaufhaus des Westens) department store, having acquired German department-store chains Galeria Kaufhof and Karstadt and merged them into Europe’s second-largest such chain.

By Brannon Boswell

Executive Editor/SCT

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