Courtyard by Marriott in Vienna sold

Transaction | 2024-10-07

Deka Immobilien optimizes portfolio of Deka-WestInvest TargetSelect-Hotel

Deka Immobilien has sold the Courtyard by Marriott in Vienna from the fund assets of the Deka-WestInvest TargetSelect Hotel as part of its ongoing portfolio optimization to Art-Invest Real Estate Funds GmbH. 

This transaction is strategically significant, as we are not only achieving positive sales performance in a challenging market environment but also strengthening our distributable result.

The Deka-WestInvest TargetSelect-Hotel focuses on hotel properties in major cities such as Vienna, Hamburg, London, and Amsterdam, which feature a healthy mix of business travelers and tourists. 

The building impresses with its distinctive appearance, characterized by an L-shaped floor plan. It has 9 floors and 2 basement levels, offering a total rental area of 13,200 sqm. Guests have access to 251 rooms, including 7 suites, an inviting lobby, and versatile event and dining areas with an outdoor terrace on the ground floor. The top floor houses conference rooms and a fitness studio. The building meets high environmental standards and holds the BREEAM certification of `Excellent´. Additionally, it offers 136 underground parking spaces. 

The tenant is Realotel W Eins Hotelbetriebsgesellschaft mbH & Co KG, a subsidiary of the Borealis Hotel Group, ensuring a stable and creditworthy rental structure. 

The four-star hotel, completed in 2008, is ideally located in the second district of Vienna, Leopoldstadt, at Trabrennstraße 4, 1020 Vienna. It is part of the exciting project development `Viertel Zwei´, surrounded by key Viennese locations such as the exhibition grounds as well as the `Wiener Prater´. With its proximity to the University of Economics and excellent transport connections – only 200 meters from the `Krieau´ subway station – the hotel is an attractive destination for business and trade fair guests.

It was agreed not to disclose the purchase price.