Invesco Real Estate has acquired a 327-bed hotel in the Polish city of Gdansk on behalf of a long-standing German separate account mandate. The acquisition is the first time the client has diversified into the hotel sector. The seller is Granaria Development Gdansk, a JV between Immobel and Multibud.
Built in 2024, The Cloud One Hotel Gdansk will be managed and operated by Motel One Group GmbH under a secured 25-year lease agreement. Motel One Group has developed a focus on sustainability and social responsibility. The Cloud One Gdansk asset itself has received the BREEAM Very Good rating, targeting BREEAM Excellent certification.
The seven-storey hotel is located on Granary Island in the centre of Gdansk. It sits about 2km from Gdansk’s main railway station, very close to Gdansk’s famous Old Town.
Tomas Picha, Senior Director - Investment Management, CEE at Invesco Real Estate, said: “The Cloud One Gdansk asset has a long lease with a highly attractive yield profile. As such, it represents a compelling investment for our German client while also building further on Invesco Real Estate’s specialist, long-term success in the European hotels sector. Gdansk has continued to benefit from increased tourism and business traffic, supporting the strong investment case for this acquisition.”
Michael Berchtold, Director - Fund Management, Invesco Real Estate, said: “The Cloud One Gdansk acquisition is a strategic move for our client, as the property fits the mandate in terms of location, quality and tenant profile, as it has an exceptional long lease with a strong tenant. The European hotel sector continues to recover post-Covid and offers excellent opportunities for investors on a select, disciplined basis. We continue to see demand from clients and remain well positioned to support institutional investors looking to diversify portfolios.”
Image source - Pexels.
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