By  on December 26, 2012

PARIS — On a last-minute Christmas shopping spree this past weekend, Austrian real estate company Signa acquired the site of Berlin’s iconic department store KaDeWe along with 16 other Karstadt locations, giving a strong boost to the German property market.

The Innsbruck-based real estate giant said it paid 1.1 billion euros, or $1.45 billion at current exchange, to acquire the collection of buildings from HighStreet, a consortium that includes Whitehall, the Goldman Sachs property fund, and Deutsche Bank’s RREEF.

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