SIGNA to Focus on Prime Assets After Morgenroth-led MBO for SIGNA Real Estate Advisory AG

VIENNA and DUSSELDORF, Germany, July 15, 2013 /PRNewswire/ --

Under the leadership of Michael Morgenroth, Managing Director of SIGNA Holding and CEO of SIGNA Real Estate Advisory (SIGNA READ), the management of SIGNA Real Estate Advisory AG has acquired all shares of SIGNA READ from SIGNA Holding GmbH in a management buy-out.

The team of SIGNA READ has extensive experience in the market for real estate debt and is among the few in the German-speaking region that has already managed such investments for third party investors.

Meanwhile Signa Group, one of the leading real estate companies in Europe with a total portfolio value of over €5 billion, will focus again on its core businesses, namely investing in trophy assets in prime downtown European locations, the traditional real estate development and investment fund business that has been built successfully for many years.

"We are one of the most dynamic and successful real estate companies in Europe and wish to continue our successful path, acquiring attractive properties in central downtown locations and maintain them long term," said Rene Benko, Signa's founder and CEO. "We want to continue on this course to invest in prime European real assets in the future."

Signa recently acquired a major portfolio of high street assets in Germany, including the legendary Ka De We department store in Berlin.

Explaining the deal, Morgenroth said: "The changes in Europe's real estate refinancing structures and regulatory changes in the insurance industry make the area of real estate debt an attractive investment theme and promising business field, whose development requires our full and complete attention."

"The step is mutually beneficial for both sides and has led to a sharpening of focus on our core competencies. There is no company that is similarly set up to High Street retailers as SIGNA," added Morgenroth.

Following the acquisition of SIGNA Real Estate Advisory AG, Michael Morgenroth has resigned as managing director of SIGNA Holding. The transition closed on July 1, 2013.

SOURCE SIGNA Group