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Billionaire Benko Sells Century Bond on Art Nouveau Landmark

R+V buys bonds said to yield 1.5% on Otto Wagner’s postal bank
Ninety-nine year government lease prompts massive write-up

Otto Wagner’s Postal Savings Bank building opened 1906 in Imperial Vienna — Otto Wagner’s Postal Savings Bank building opened 1906 in Imperial ViennaSource: Godong/Universal Images Group via Getty Images

By

Boris Groendahl and

February 21, 2020, 7:20 AM UTCUpdated onFebruary 21, 2020, 8:13 AM UTC

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Billionaire Rene Benko monetized the signing of a long-term lease on a historical Vienna property by selling 99-year bonds worth almost twice what the building was valued in September.