
The insolvency administrator for the Laura Privatstiftung, Stefan Geiler, said a plan is being prepared to potentially convert the former residence of ex-billionaire René Benko into a hotel. The property, known as “Villa N,” cost at least €60 million to build and sits on a nearly 6,000-square-meter plot in Innsbruck-Igls, where the Schlosshotel once stood before its demolition. Geiler described the villa as difficult to market despite its prime location, citing annual operating costs of around €500,000 at full capacity, currently reduced to about €18,000 monthly by maintaining only essential services .
The villa is part of the Laura Privatstiftung, which Benko founded and which holds approximately 50 subsidiaries with a combined 100 properties across Germany, Austria, and Italy. Creditors have claims totaling roughly €1.3 billion against the insolvent foundation, and Geiler stated the insolvency proceedings could last for years. The foundation is also central to investigations by Austria’s Economic and Corruption Prosecutor’s Office into the collapse of Benko’s Signa real estate and retail empire. Benko, the Signa founder, has been in pretrial detention for 18 months on suspicion of serious fraud and creditor harm, though he has denied all allegations .
Meanwhile, the Immobiliengesellschaft Jagdfeld announced plans to sell Berlin’s legendary Hotel Adlon for at least €280 million, pending approval from the 4,000 investors in the Fundus-Fonds 31, which owns the property. The fund’s manager said the sale aligns with investors’ wishes, many of whom are at an age where they seek to divest their holdings. A structured bidding process with an international broker would follow if 75% of voting shareholders approve the proposal. The hotel’s operations, managed by Kempinski under a lease extending to 2032, would remain unchanged for guests .
In Helsinki, the former home of Finland’s first president, Kaarlo Juho Ståhlberg, was listed for sale at €4.5 million. The 272-square-meter, three-story villa on a nearly 2,000-square-meter plot in Kulosaari was designed by architect Valter Thomé in 1911. Ståhlberg, who served as president from 1919 to 1925, owned the property from 1929 to 1952. The villa, renovated in 2010, includes four bedrooms, a sauna, and a two-car garage built in 2013. Real estate agent Pekka Kujala of Bo LKV noted the property’s historical significance but emphasized that history alone does not drive sales .
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