Press Release

Deka Immobilien purchases fourth property for it´s Northamerican-Fund

06.07.2017

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.

  

Your contact

Christian Pommée

Press officer

T +49 69 7147 7761

christian.pommee@deka.de

Dr. Daniela Gniss

Press officer

T +49 69 7147 2188

daniela.gniss@deka.de