Press Release
Deka Immobilien sells hotel in Sweden
Frankfurt, 01.03.2024
Deka Immobilien has sold a hotel in Gothenburg. The property belongs to the portfolio of WestInvest ImmoValue, an investment fund designed for institutional investors. Sinoma Fastigheter AB, a company owned by Swedish investor Balder and pension fund Folksam, has acquired the property. The parties have agreed not to disclose the sales price.
Built in 2004 and boasting 300 rooms, Hotel G is located directly next to Gothenburg Central Station and has a total leasable area of over 13,600 sqm. Since it was acquired by Deka Immobilien in July 2009, the four-star hotel has been fully leased to the hotel operator Host Hotel G AB Group on a long-term basis.
With the sale, the fund management team is generating a profit for investors and separating itself from a property that is no longer consistent with the strategy of the fund.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of EUR 370 billion (as at 30/09/2023) and 5.5 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
The Deka Group's global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 50 billion (as at 31/12/2023) in real estate assets.
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