NEON advises SIGNA on the sale of Sevens

December 2020 | NEON advises SIGNA on the sale of the shopping center “Sevens” in Düsseldorf

NEON has successfully advised the SIGNA Recap Development Fund on the sale of prominent shopping center “Sevens” located on Königsallee in Düsseldorf together with the neighbouring property at Steinstraße. The exit was implemented by a multi-step share deal, ultimately comprising all limited partnership interests in both property companies.

The “Sevens” shopping center is located at Düsseldorf’s prime retail destination Königsallee. Prior to this successful exit, the center had been comprehensively repositioned by the SIGNA Fund and its joint venture partner. NEON has previously advised on the acquisition of the project and the joint venture as well as the bank and mezzanine financing of the acquisition and the project development.