German fund manager Deka Immobilien has acquired the Arcotel Onyx hotel in Hamburg for around €40 mln.
German fund manager Deka Immobilien has acquired the Arcotel Onyx hotel in Hamburg for around €40 mln.
The property will be added to Deka’s WestInvest TargetSelect Hotel fund, which focuses exclusively on institutional investors. The vendor was Austria’s Strabag, which developed the hotel.
The four-star hotel was completed in 2012 and provides around 10,500 m2 of space spread over 215 rooms. It is run by Vienna-based operator Arcotel Hotel.
