Signa buys Vienna’s IZD Tower

Signa Holding added another high-profile property to its portfolio this week as the real estate firm bought the IZD Tower in Vienna-Donaustadt.Signa boss Benko said yesterday (Weds) his company paid British fund Matrix 212.25 million Euros for the skyscraper located near Vienna International Centre. Matrix paid 247 million Euros when it acquired the building four years ago.”We acquired another trophy asset with the IZD Tower for a very attractive price,” Benko said.Plastic producer Borealis and Austrian Railways ÖBB have offices in the building.Signa owns and manages property across Europe. It hit the headlines by buying 12 objects in Vienna city centre.The firm, which is headquartered in the Austrian capital, has invested 500 million Euros in real estate so far this year. Recent purchases include Sevens shopping centre in Dusseldorf, Germany, and Vienna’s Bank Austria Kunstforum gallery.Signa recently announced that a daily average of 27,500 people had shopped at its Kaufhaus Tyrol since the mall opened last March.The shopping centre features a wide range of shops covering 30,000 square metres. Its storefront design by British architect David Chipperfield has been praised as resembling a museum’s rather than that of a shopping centre.