First hotel investment for Deka-ImmobilienMetropolen fund successfully completed

Transaction | 2023-10-31

Deka Immobilien has acquired the Premier Inn Hotel in Dublin, which was completed in October 2023, for the portfolio of the Deka-ImmobilienMetropolen fund. This represents the fund's first investment in the hotel sector, thereby augmenting its asset diversity. The property was sold by Carey Issuer DAC, a Bain Capital company.

The prime property is situated at the renowned historic “The Liberties” site, a rising hotspot in Dublin. It is a component of the “Newmarket Yards” mixed-use development. Upon its completion, this project will additionally showcase 413 premium residences, a variety of services, and a generously designed public space.

Spanning a total rental area of 6,756 sqm across eight floors and a basement, the hotel comprises 151 rooms and three retail spaces. It is managed by the Irish hotel group, PI Hotels & Restaurants Ireland Limited. Through a 20-year long-term lease agreement, the group ensures a steady cash flow for the fund. With this venture, the esteemed Whitbread Group expands its “Premier Inn” brand presence in Dublin.

The property meets all sustainability requirements of hoteliers and investors. It boasts a BREEAM “Very Good” certification and is also graced with the energy rating BER A3 (very good). Surpassing typical construction standards, it is recognized as an NZEB (Nearly Zero Energy Building). The property thus meets the high standards of sustainability to which Deka Immobilien is committed.