Real Estate
Bankrupt Signa Seeks €370 Million From Sale of Vienna Park Hyatt
- Eastdil appointed to market hotel and luxury retail stores
- Properties have €155 million of debt owed to pension fund BVK
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Administrators of bankrupt Signa Prime Selection AG are preparing to launch the sale of the Vienna Park Hyatt and adjoining luxury retail premises, including Prada’s flagship store, according to people familiar with the matter.
Real estate investment bank Eastdil Secured LLC has been appointed to offer the properties that are expected to attract bids in the region of €350 million ($361 million) to €370 million, two people said, asking not to be identified as the process is not yet public. The 146-room hotel accounts for roughly half of that price tag, with the luxury stores adjacent to another Signa asset, the so-called Golden Quarter, making up the other, they said.