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...“None of them is a real estate expert,” the creditor said....
...Following the FT’s report, Signa Development’s external administrator, Andrea Fruhstorfer, said transactions had been “used for Signa real estate projects” and had not occurred immediately prior to the company...
...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...The KaDeWe building is Signa’s single most valuable piece of real estate and has long been regarded as its jewel in the crown....
...Benko, the company’s founder and largest shareholder, has spent much of the last year trying to raise cash for the group, as hundreds of millions of euros of debt has come due at a time of falling real estate...
...Four months on from the collapse of his sprawling luxury real estate empire, the Signa Group, Benko — once one of Europe’s youngest billionaires, feted by politicians in Austria and Germany — has come under...
...(Current bid €110) Furnishings by Vitra and Noguchi, e-bikes, two European Real Estate Brand awards, beanbags, pre-filled wastepaper bins, sales brochures and a snowglobe also feature across the auction...
...estate....
...sam.jones@ft.com Letter in response to this column:Blame real estate owners for the woes of department stores / From Christopher Knee, Honorary Adviser, International Association of Department Stores, Paris...
...estate in Vienna....
...And while no one is comparing the crisis in commercial real estate now to that crisis, there are certainly echoes in the way that this is a market where a lot of lenders are holding stuff, holding paper...
...Many creditors say their exposures are well-collateralised by Signa’s high-value real estate portfolio....
...Signa, which owns a real estate portfolio worth €27bn including stakes in Selfridges, KaDeWe and the Chrysler building, has been facing financial difficulties for the past year....
...Signa Sports and Signa Real Estate Management Germany The financial tremors began at the extremities....
...Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer....
...Benko’s group was seeking “to enter into a contract with BIG for the whole building which would secure the borrower a constant income for up to 99 years without any real estate related risks”, according...
...Its lightning expansion across Europe in recent years was fuelled by cheap debt and rising commercial real estate valuations. By the end of last year, Signa valued its properties at more than €30bn....
...[and] discussions are also being held regarding the investment in Signa RFR US Selection AG, whose US real estate projects include the Chrysler Building in New York,” he said in a statement....
...Sir Keir Starmer, Labour leader, has vowed to oppose a cut in inheritance tax cut — paid by fewer than 4 per cent of estates — with Labour insiders saying the party would reallocate the lost revenues to...
...estate in the world....
...“It’s a good time for select names in Chinese real estate. It is 25, 30 per cent of [gross domestic product] and it’s not going to disappear,” said Koenigsberger....
...Hedge fund Muddy Waters on Wednesday revealed a bet against a publicly listed real estate investment trust managed by private equity giant Blackstone....
...Selling Mayfair: The new owner of the Sotheby’s London real estate franchise aims to disrupt the business of selling multimillion-pound homes in the city....
...The billionaire behind Inditex buys real estate dip Spanish fashion giant Inditex paid a dividend of €1.20 per share last year, not even enough to buy a pair of kids’ socks from its flagship Zara brand....
...estate and star-studded marketing....
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