Germany's Deka Immobilien has sold a hotel in Gothenburg that was part of the portfolio of WestInvest ImmoValue, a special fund designed for institutional investors.
The property has been acquired by Sinoma Fastigheter, which is owned by the Swedish investor Balder and the pension fund Folksam. The sale price was not disclosed.
Built in 2004, Hotel G is at Gothenburg Central Station and has a total lettable area of more than 13,600 m2 with a total of 300 rooms. Since its acquisition by Deka Immobilien in July 2009, the 4-star hotel has been fully leased to the hotel operator Host Hotel G AB Group on a long-term basis.
Deka said it had divested a property no longer in line with its strategy and had generated a profit for investors. See the weekly data sheet for more on Deka.
