CAERUS Debt Investments AG (CAERUS) has granted a loan of €67.5m to refinance the refurbishment and reconfiguration of a historic city palace in Vienna into a 5-star hotel and twelve exclusive apartments. The first-ranking secured senior loan is for a term of four years. The property is situated directly on the Parkring, in the centre of Vienna. It comprises two interconnected buildings, with a total area of around 18,000m².
The hotel is to be operated under a newly-established 5-star hotel brand. The operator is owned by two leading private real estate investors in Austria, with many years of experience in the hotel segment. It is planned to develop the property further, to a high-quality but also sustainable specification.
Peter Anthuber, CIO of CAERUS, commented: "This property fits perfectly into our financing portfolio, for two main reasons: Firstly, its outstanding location and high quality are highly attractive. Secondly, Austria is one of our most important target markets.”
