To private foundation

Signa: Historic building in Vienna sold

The historic building in Vienna's city center

(Bild: APA/GEORG HOCHMUTH)

The insolvency administrator of Signa Prime, Norbert Abel, has found a buyer for the historic building, which stretches from Freyung to Renngasse. 

The new owner of the building, which houses both the Constitutional Court and the Bank Austria Art Forum until the end of 2024, is JR Investment GmbH, a company belonging to the private foundation of Upper Austrian industrialist Josef Rainer.

"The property is being sold as part of a share deal through the sale of 100 percent of the limited partnership shares of Renngasse 2 Beta KG and 90 percent of Renngasse 2 Immobilien KG," said insolvency administrator Abel. It was agreed not to disclose the purchase price, which was also confirmed to the "Krone" on Wednesday.

The building at Renngasse 2 is said to have originally been valued at 160 million euros on Signa's books. Most recently, there was talk of a market value of around 100 million euros. The building is said to be encumbered with a maximum lien of 120 million euros.

Second Signa building acquired
The sale of the building in Renngasse was apparently preceded by a structured bidding process. The offer period expired in December and the completion of the sale was announced for the beginning of 2025. 

Bank Austria already announced the imminent end of the Kunstforum in December, as operations would not be possible without the sponsorship of Signa Prime.

JR Investment acquired the corner building on Kärntner Strasse, which houses the Apple Store, from Signa for EUR 95 million back in 2023.