Wealthcore and Korean investors acquire Hilton hotel in Vienna for €370mn
The Munich-based Wealthcore and the South Korean firm Mastern Investment Management have acquired the “Hilton Parkview” in Vienna for €370mn. Mastern is acting on behalf of three Korean investors: Meritz Securities, Hana Financial Investment and NH Investment & Securities. Wealthcore was founded in 2018 and is managed by Christoph Wendl, formerly of Real I.S. The sellers are two Austrian family offices represented by Invester United Benefits. The transaction was advised by Savills Frankfurt, London and Seoul, and by PKF hotelexperts, Munich. The buyer was advised by DLA Piper, PwC and iC Consulenten on legal, tax and technical matters. Bank Austria and Raiffeisen Bank International are providing debt financing. The approx. 50,000 sqm property is currently being revitalized and expanded for €75mn and will have over 660 rooms and 241 parking spaces.
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