German real estate fund Deka Immobilien is acquiring the 187-room Clayton Hotel Charlemont in Dublin, Ireland from owner operator Dalata for €65 million (€348,000 per room). The property, developed by Dalata, will continue to be operated by the Irish hotel group under a 35-year fully repairing and insuring lease agreement, with five-yearly rent reviews. The price represents a reported yield of 4.7%, and includes a rent-free period for one year.
French publicly traded real estate investor Covivio has announced the sale of 11 B&B Hotels encompassing 1,145 rooms across Germany, for €115 million (€100,000 per room). The properties, located in key markets such as Munich, Hamburg and Stuttgart, are all budget hotels with limited facilities in addition to their core guestroom product, and are managed by B&B Hotels under lease agreements.
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