Deka Immobilien checks into Vienna hotel, divests hotel in Berlin

Deka Immobilien has purchased the five-star Andaz Vienna Am Belvedere hotel in Vienna, Austria, for approximately €92 mln. 

Andaz Vienna Am Belvedere

The seller was a joint venture between affiliates of Hyatt Hotels Corporation and Signa Development Selection. This asset will be integrated into the portfolio of the WestInvest InterSelect open-ended real estate fund, marking Deka Immobilien's first venture into Vienna's hotel sector.
Completed in 2019, the 16-story hotel boasts 303 rooms, including 44 suites, four dining establishments, extensive conference facilities, and a fitness and wellness area. It also includes 233 underground parking spaces. The hotel is secured by a long-term lease with MHP Hotel am Schweizergarten. While currently operating under Hyatt's Andaz brand, it will transition to the globally recognised Hyatt Regency brand in April 2026.
Strategically located at Arsenalstraße 10, between Vienna's main train station and Belvedere Palace, the building holds a LEED Gold certification. 
Conversely, Deka Immobilien has sold the Edison Höfe office and commercial complex in Berlin-Mitte to an institutional investor for an undisclosed price. This property was part of the WestInvest ImmoValue open-ended real estate fund, which caters exclusively to institutional investors.
The Edison Höfe complex, situated at Invalidenstraße 116–119/Schlegelstraße 26, 26A–C, comprises eight office and commercial buildings offering 27,700 m2 of leasable space and 129 parking spaces. After nearly 13 years of ownership, the WestInvest ImmoValue fund managed to sell the property significantly above its initial purchase price.