Hamburg-based Union Investment Real Estate AG is expanding the portfolio of its UniImmo: Europa open-ended real estate fund in the hotel segment. The fund, which has strong liquidity of around 30%, has acquired the four-star Kaiserwasser hotel in Vienna for some €34 million. The vendor is Raiffeisen evolution project development GmbH, a company headquartered in Vienna.
The four-star Arcotel Kaiserwasser has 282 rooms.
Open since the summer of 2007, this four-star design hotel has 282 rooms, suites and apartments, as well as fitness and spa facilities. The Kaiserwasser is a new build located on the River Danube opposite the UNO City and is leased to Arcotel Hotel AG for 20 years.
UniImmo: Europa first invested in the Austrian capital in 2007 by purchasing the 31-story floridotower office complex. The fund's high-quality hotel portfolio also comprises other three- to five-star business hotels in Germany and France run by leading operators Dorint, Marriott, M