The image of the real estate prodigy has recently cracked.
(Photo: Getty Images for Oberpollinger/ )
Frankfurt, Dusseldorf According to company circles, the Signa Group of real estate investor René Benko, which is behind the Galeria department store group, has secured fresh equity. The existing investors have put a total of around 400 million euros in fresh capital into Signa Holding, said several people familiar with the transaction. The group is suffering from the slump in the real estate market.
The money is said to have flowed from Benko himself, but also from Fressnapf founder Torsten Toeller, the Austrian contractor Hans Peter Haselsteiner and the Brazilian entrepreneurial family Koranyi-Arduini, according to the circles. Signa, Benko and the other owners did not respond to requests for comment.
In recent years, Benko has built up a real estate empire using a lot of borrowed capital, which includes the Golden Quarter in Vienna, the Upper West in Berlin and the Chrysler Building in New York, but also spectacular projects such as the Elbtower in Hamburg.
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