What: Kaufhaus Tyrol, a former Signa property in Innsbruck, sells for €140 million to KHT AcquiCo SARL, backed by Peek & Cloppenburg investors, with Midstad appointed as operational manager.

Why it is important: The sale represents a key milestone in Signa's bankruptcy proceedings, showing how prime retail assets are being redistributed to experienced retail operators who can maintain operational stability.

The sale of Kaufhaus Tyrol in Innsbruck has been completed as part of Signa Prime Selection AG's bankruptcy proceedings, with KHT AcquiCo SARL acquiring the downtown department store for approximately €140 million. The buyer, affiliated with Liechtenstein-based Horn Grundbesitz GmbH, is backed by investors close to Peek & Cloppenburg, with fashion entrepreneur Patrick Cloppenburg reportedly seeking sole control. Operational management will be handled by Midstad, which already manages properties across Germany, Belgium, the Netherlands, and Austria. The property, which René Benko acquired in 2004 and redeveloped with architect David Chipperfield, reopened in 2010 offering 33,000 square meters of space for more than 50 stores. Notably, Peek & Cloppenburg previously operated a branch in the building until 2019, when lease negotiations with Signa failed. The new operator plans to adapt the building's use mix while ensuring sustainable offerings and value stability.

IADS Notes:

The sale of Kaufhaus Tyrol for €140 million represents the latest chapter in the ongoing restructuring of Signa's retail property portfolio. Fashion Network reported in October 2024 that Austrian investor Georg Stumpf's acquisition of the unfinished Lamarr project demonstrated continued investor interest in prime retail assets despite market uncertainties. However, Fashion Network's December 2024 coverage of KaDeWe's fraud investigation highlighted the complex challenges facing former Signa properties. According to SeeNews in April 2025, Croatia's Nama department store sale introduced new approaches to retail property restructuring, particularly regarding employee protection, similar to Midstad's planned operational strategy for Kaufhaus Tyrol. Fashion Network reported in January 2025 that René Benko's arrest marked a turning point in addressing Signa's legacy, while BoF's October 2024 coverage of Central Group's acquisition of Globus showed that strategic investors continue to see value in well-positioned European retail assets. The acquisition by Peek & Cloppenburg-affiliated investors suggests a trend toward traditional retailers taking control of strategic retail properties.

Kaufhaus Tyrol in Innsbruck Sold After Signa Bankruptcy