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| Union Investment buys hotel in Vienna Hamburg-based Union Investment Real Estate AG is expanding the portfolio of its UniImmo: Europa open-ended real estate fund in the hotel segment. The fund, which has strong liquidity of around 30%, has acquired the four-star Kaiserwasser hotel in Vienna for some €34 million. The vendor is Raiffeisen evolution project development GmbH, a company headquartered in Vienna. Open since the summer of 2007, this four-star design hotel has 282 rooms, suites and apartments, as well as fitness and spa facilities. The Kaiserwasser is a new build located on the River Danube opposite the UNO City and is leased to Arcotel Hotel AG for 20 years. write your comments about the article :: © 2008 Construction News :: home page |