The Schoeller family of German industrialists has recently acquired three projects from the insolvent Signa Prime in Italy. These include the renowned 5-star Hotel Bauer in Venice, the under-construction WaltherPark, and the development project Long live Virgolo in Bozen. The contracts for these acquisitions have already been signed, according to Signa Prime’s restructuring manager.
The WaltherPark project in Bolzano is a city project that includes a shopping center, hotel, apartments, and office space. Construction is progressing rapidly with an opening planned for spring 2025. The Long live Virgolo project involves the acquisition and development of Bolzano’s local mountain, Virgl, which includes a cable car.
The historic Hotel Bauer in Venice, located on the Grand Canal, has been part of Signa’s portfolio since 2020 and has undergone significant renovations since November 2022. Once renovations are complete, the hotel will reopen under Rosewood’s management.
Despite initially being rejected with another offer in mid-March, this time the restructuring administration of Signa Prime approved the transaction and the creditors’ committee agreed. Subject to regulatory approvals, the sale is expected to be completed in a few months. Details about the purchase price have not been disclosed.
In addition to these developments, there are various activities and profiles listed at the end of this content that are not related to the German Schoeller family’s acquisition of Signa Prime projects.