New KD Funds and Peakside fund agrees fourth deal in Slovenia

A newly launched southeastern Europe property fund backed by Peakside Capital has added a 214-room hotel asset to its portfolio.

KD Adriatic Value Fund, managed by KD Funds in partnership with Peakside, bought the Austria Trend Hotel from CA Immo for an undisclosed sum.

In April last year, asset manager KD Funds and Peakside launched the KD Adriatic fund, the first regulated real estate alternative investment fund in Slovenia.

At the time, the fund had raised €50m and made its first acquisition, with the purchase of the Tivoli Center office building in Ljubljana for €13m.

The KD Adriatic Value fund targets assets in Slovenia, Croatia and Serbia, with a special focus on office and retail properties.

In a joint statement today, the companies said the Austria Trend Hotel acquisition represents the fourth deal in Slovenia.

Luka Podlogar of KD Funds said: “With the acquisition of the Austria Trend Hotel, KD Adriatic Value Fund is strengthening its core business and expanding its real estate investment portfolio to include the hospitality sector.

”This is in line with our strategy of offering south-east Europe real estate as an attractive asset for institutional investors.”

Tomasz Niezgodzki, Peakside Capital, said: “The hotel is well recognised by tourists and business guests in Ljubljana.

“With its excellent location, visibility and building structure it has a great potential for further growth together with the whole Slovenian hospitality sector.”

 

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