Irish private equity firm Signature Capital has bought the Neumarkt Galerie mixed-use complex located in Germany for around €130-135 million, PropertyEU reports. The prime office and retail complex, anchored by Karstadt Sports, was previously owned by Quinlan Private.
Neumarkt Galerie Immobilien, the vehicle holding the asset, appointed insolvency firm Goerg to sell the centre after it filed for bankruptcy in February 2011. Goerg administrator Markus Heider worked alongside Capita Asset Services on the deal. CB Richard Ellis managed the sale process. Signature Capital was advised by Jones Day, while Wellensiek Rechtsanwälte advised Capita.
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