Madison buys 5% stake in €12.5bn Signa portfolio

Madison International Realty has acquired a 5% equity stake in Signa Prime Selection, a €12.5bn (£11.2bn) European real estate portfolio.

The New York-based firm has bought the stake via Luxemburg-based investment vehicle MIELI II Sarl, a fund it manages, from majority owner Signa Holding.

The portfolio comprises 27 properties and development projects, as well as the 60-asset Kaufhof real estate portfolio. The portfolio spans 2.4m sq m and includes luxury retail, department stores, office, hotel and residential assets.

With this transaction, MIELI II becomes one of Signa Prime’s top five shareholders. The firm’s current shareholder base