Signa in talks to buy EUR 250m of assets in Vienna

Austrian investment fund Signa Holding is reportedly in negotiations to purchase two flagship assets in Vienna from British investment fund Matrix. Matrix acquired the IZD tower from US fund Doughty Hanson in 2006 for EUR 247 mln.

According to an article in the Austrian paper Format, the real estate investor is buying the 162-metre IZD tower located next to the Danube river, as well as the Kunstforum art gallery, which is currently rented by Bank Austria.

Currently worth some EUR 200 mln, IZD Tower is the largest office skyscraper in Austria. With 63,000 m² of office space, the skyscraper is adjacent to the UN complex and its tenants include the US Mission to the UN, Ernst & Young and the Oracle Corporation. The tower has underground parking for 1,250 cars.

The art gallery provides some 10,000 m² of exhibition space and is estimated to be worth between EUR 40 mln and EUR 50 mln. It remains unclear whether or not Bank Austria will continue to house its art collection in Kunstforum after the transaction.


Signa has made its reputation through the acquisition of bank Bawag's head office and the former Länderbank headquarters.