Deka Immobilien GmbH has secured via a Sale-and Leasebacktransaction
the Hotel „Hyatt Centric The Loop“, located in downtown
Chicago, for a purchase price of 110 Mio. US-Dollars. Seller and future
tenant Integrated Clark Monroe, an affiliate of Murphy Development
Group, has entered into a long-term franchise agreement with the hotel
group Hyatt. The property will be added to the portfolio of the openended
real estate fund Deka- ImmobilienNordamerika.
The four-star hotel which was completed in 2015 comprises 257 rooms, a
restaurant and a rooftop bar. It is located in the heart of downtown
Chicago, the third largest city in the US. It was opened as the first hotel
worldwide, under the new lifestyle-brand „Hyatt Centric“. This brand
stands for modern hotels in locations at the center of prime destinations.
With this fourth investment the fund management diversifies the starting
portfolio of the fund further. At present, the fund’s property portfolio
comprises of an office building in Boston, a high-street retail property in
Washington D.C. and a logistic facility in greater St. Louis.
The long-term lease of the hotel, with a duration of at least 28 years,
adds to the stability of the young fund. The Deka-ImmobilienNordamerika
fund was established mid July 2016 targeting wealthy private investors
and is denominated in US-Dollar with an investment focus on commercial
properties in the US. In addition, the fund may also invest in real estate
assets in Canada and Mexico, offering additional diversity to the portfolio.
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Bank Finance Group. Together with its subsidiaries it forms the Deka Group. The Deka Group has total customer assets of around EUR 283 billion (as at 31/12/2017) and more than four million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany today. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank Deutsche Girozentrale celebrates its 100th anniversary in 2018.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, and the service company, Deka Immobilien GmbH, manage and service around EUR 32 billion in real estate assets (as at 31/12/2017).