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 square metres 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.
Source: deka.de on the 31st of October 2023
https://www.deka.de/immobilien_en/premier_inn_dublin_en