Frankfurt’s Deka Immobilien has acquired the five-star InterContinental Hotel in Warsaw for €103m from a joint venture of Warimpex and UBM Realitätenentwicklung.
The property will be integrated into the portfolio of the open-ended real estate fund WestInvest InterSelect.
The hotel has a total lettable area of 45,500m² which will be leased back.
The sales brings the fund portfolio’s hotel percentage up to 11% and increased the diversification of the portfolio.
