SoReal Invest: First fund starts with five hotels
SoReal Invest, the freshly founded German funds subsidiary of Austrian developer Soravia, has locked in five establishments worth €100mn for its first Bafin-regulated hotel fund. The starter package contains the 195-room hotel planned in Mainz’ Zollhafen, which is leased to H-Hotels, the two 7 Days Premium hotels in Vienna and Duisburg’s Innenhafen, both operated by Chinese firm Plateno, a four-star hotel in Linz, Austria, and another in the tristate area on Lake Constance. Acquisitions of further hotels are to triple the fund’s volume. It targets budget plus hotels and limited service establishments with three to four stars in German and Austrian secondary and tertiary markets. With conservative financing, institutional investors can expect annual distributions of 5 %.
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