Düsseldorf-based closed-end fund Signa Property Funds has acquired the Hoto business tower in the Croatian city of Zagreb for EUR 72 mln. The building, built in 2004, is let to the Croatian subsidiary of Deutsche Telekom, Hrvatski, through 2019. In a statement, Signa said that Hrvatski is occupying about 25,576 m[sup]2[/sup] of space. Landesbank Hessen-Thüringen provided EUR 50 mln in financing for the transaction.
Düsseldorf-based closed-end fund Signa Property Funds has acquired the Hoto business tower in the Croatian city of Zagreb for EUR 72 mln. The building, built in 2004, is let to the Croatian subsidiary of Deutsche Telekom, Hrvatski, through 2019. In a statement, Signa said that Hrvatski is occupying about 25,576 m2 of space. Landesbank Hessen-Thüringen provided EUR 50 mln in financing for the transaction.
According to Signa's CEO Frank Tölle, Signa plans to sell the property to private investors next spring.
