union investment

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union investment

Union Investment and IHG to Invest 60 Million Euro to Modernize InterContinental® Berlin

IHG | March 4, 2019

IHG® (InterContinental Hotels Group) and Union Investment have announced plans to modernise InterContinental Berlin, which is owned by Union Investment and operated by IHG. The announcement coincides with the International Hotel Investment Forum (IHIF) in Berlin, Europe's most important hotel investment conference. The upgrade of the 558 luxurious guest rooms and the beautifully designed public areas of the hotel will cost around EUR 60 million. The hotel will remain open during the works, which will be managed to ensure a continued high level of hospitality and uninterrupted guest services. The renovation will take place in several...

Steigenberger Hotels AG Extends Lease With Union Investment for Germany’s Steigenberger Hotel Hamburg

Steigenberger Hotels and Resorts | February 28, 2019

Frankfurt, 28 February 2019 Never change a winning team: Union Investment, the owner of the property, and Steigenberger Hotels AG have extended the lease for the hotel on Hamburg's Fleetinsel for another 25 years. The two parties have also agreed to carry out a comprehensive refurbishment of the hotel, which was built in 1992. Beginning with the underground garage and followed by the 8th floor, the hotel will be gradually updated, remaining open during refurbishment. The works are scheduled to start in spring 2019. Union Investment is investing around EUR 50 million in the upgrading programme. "Our guests are accustomed to first-class s...

Union Investment Acquires 304-Room Dual-Branded Hyatt House and Hyatt Place in Charleston, South Carolina

Union Investment | October 11, 2018

Union Investment has acquired a further hotel property in the US. Opened in 2015, the property is located on King Street in the historical city centre of Charleston, South Carolina, one of the most popular travel destinations in the United States. The property comprises a modern Hyatt House apartment-style hotel, designed for extended-stay guests, and a Hyatt Place hotel, a brand in the premium segment. The two brands offer 304 rooms in total. The vendor of the property is Regent/BN Charleston Holdings LLC. The hotels are leased for 30 years to the operator, the Pyramid Hotel Group. The purchase price is not disclosed. Union Investment ...

Union Investment Acquires Hotel Portfolio From benchmark. REAL Estate

benchmark | October 5, 2018

Four development projects comprising 675 rooms in total / Acquisition for immofonds 1 and a special hotel fund 5 October 2018 Union Investment has secured a portfolio of four hotel development projects from benchmark. REAL Estate Development (benchmark.) via a forward purchase agreement. Three hotels to be built in Dresden, Oberhausen, and Eschborn will be transferred to the holdings of open-ended real estate fund immofonds 1. The fund is marketed exclusively in Austria. An additional planned hotel property in Freiburg im Breisgau is being acquired for special fund UII Hotel Nr. 1. The parties agreed not to disclose the purchase price. ...

Owned by Union Investment and Managed by Widewaters Group, The Porter Hotel in Portland, Oregon Joins Hilton’s Curio Collection

Curio Collection by Hilton | April 5, 2018

PORTLAND, Ore. and MCLEAN, Va. - Curio Collection by Hilton today welcomes The Porter Portland as its 50th property in its upper upscale portfolio of one-of-a-kind hotels and resorts handpicked for their unique character. Inspired by the independence and natural beauty of Portland, the hotel resonates the city's ambiance through its rich and textured aesthetic. The Porter is home to 297 guest rooms, an expansive library, a heated indoor pool with Jacuzzi, as well as a sauna room, steam room, meditation spa, locker rooms and a 24-hour fitness center. "We are proud to reach the milestone of 50 Curio Collection properties in our portfolio ...

Union Investment Acquires The Porter in Downtown Portland, Oregon for EUR 120 Million ($149M)

March 7, 2018

Union Investment has acquired the boutique and lifestyle hotel The Porter in Portland on the west coast of the US, which opened at the beginning of the year. Offering 294 rooms, the property is part of the Curio Collection by Hilton brand, a global portfolio of exceptional hotels for discerning travellers. The developer, vendor and operator of the hotel is Widewaters Hotel, LLC, which has already developed and acquired 38 hotels and currently successfully operates 18 hotels in the US. The purchase price is around EUR 120 million, with the acquisition being made on behalf of open-ended real estate fund Unilmmo: Global and thus further st...

Union Investment Acquires Projected Thompson-Branded Lifestyle Hotel Development in Washington DC for $120 Million

Union Investment | March 5, 2018

5 March 2018 - Union Investment has agreed to acquire a Thompson-branded lifestyle hotel development in Washington D.C. The hotel will be built in Navy Yard, which is currently one of the most exciting urban development areas in the US. The vendor, developer and future operator of the approximately 12,000 sq m property is Gone Yard Hotel Owner, LLC, a joint venture between Geolo Capital and JW Capital Partners. Transfer of the hotel will take place upon opening of the 11-storey hotel, which is scheduled for the beginning of 2020. Upon completion, the project will be added to the portfolio of the open-ended real estate fund UniImmo: Glob...

Union Investment Acquires Two Holiday Inn Hotels in Poland for EUR 80 Million

January 22, 2018

Planned new build in Gdańsk / Completed new build in Warsaw Union Investment has secured the future Holiday Inn Gdansk City Centre hotel at an early stage by way of a forward purchase agreement. The hotel will have 240 rooms and be located on Gdańsk's historic Granary Island. Completion and the transfer of rights and obligations are scheduled for mid-2019. The project has been acquired for the portfolio of one of Union Investment's institutional funds. The Hamburg-based real estate investment manager will also complete the acquisition of the 256-room Holiday Inn Warsaw City Centre on Ulica Twarda at the end of January 2018. The acqui...


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