Munich / Frankfurt am Main, December 9, 2024
Invesco Real Estate, the global real estate investment arm of Invesco Ltd (NYSE: IVZ) with $90 billion in assets under management, has acquired a 327-bed hotel in Gdansk, Poland, for a long-standing German retail client. This is the client’s first investment in the hotel sector.
The acquisition of Cloud One Gdansk is a strategic step for our client. The property meets all mandate requirements in terms of location, quality and tenant profile and offers a long-term lease with a strong tenant.
Completed in 2024, The Cloud One Gdansk hotel will be managed and operated by Motel One Group GmbH under a secured 25-year lease. With its new Cloud One lifestyle concept, the Group has upgraded and expanded its brand portfolio in recent years. Motel One Group GmbH is a leading hotel chain with a portfolio of 94 hotels and more than 26,000 rooms in twelve European countries and the USA. The group is known for its budget-friendly, high-comfort hotels in prime inner-city locations. The Motel One Group places an emphasis on sustainability and social responsibility, and Cloud One Gdansk itself has a BREEAM “Very Good” certification and is aiming for an “Excellent” rating.
The seven-storey hotel is located on Gdansk’s Speicherinsel in the heart of the former Hanseatic city, around 2 kilometers from the main train station and in the immediate vicinity of the old town. The Baltic city has become a popular tourist destination: In 2023, the number of overnight stays rose to over 3 million, which corresponds to an average annual growth of around 7% since 2012, outperforming both Warsaw and Krakow.[2] Invesco Real Estate has extensive experience in the European hotel sector. The team of investment experts specializing in hotel real estate has a 17-year track record of investing more than €2 billion in the sector and currently manages 27 hotel investments under 16 brands in seven countries across Europe. Through an active asset management strategy, close collaboration with industry leaders and a focus on prime hotels in European gateway cities, the team has consistently created long-term value. Tomas Picha, Senior Director – Investment Management, CEE, at Invesco Real Estate, said: “The Cloud One Gdansk property offers a long lease with a very attractive yield profile. This makes it a very attractive investment for our German client, which also further expands Invesco Real Estate’s long-term track record for European hotel real estate. The continued growth in tourism and business travel in Gdansk underpins the investment case behind this acquisition.” Michael Berchtold, Director – Fund Management, Invesco Real Estate, said: “The acquisition of Cloud One Gdansk is a strategic move for our client. The property meets all mandate requirements in terms of location, quality and tenant profile and offers a long-term lease with a strong tenant. As the European hotel sector continues to recover from the Corona crisis, very good opportunities are opening up for investors with a selective and disciplined investment approach. We continue to see strong client demand and remain well positioned to support institutional investors with portfolio diversification.” The seller is Granaria Development Gdansk, a joint venture between Immobel and Multibud. [1] BREEAM = Building Research Establishment Environmental Assessment Methodology, is a rating system for environmental and socio-cultural aspects of the sustainability of buildings [2] CBRE Hotels Market Report, Poland, CSO, CBRE, 2023.
About Invesco
Invesco Ltd (Ticker NYSE: IVZ) is a global, independent investment management company dedicated to helping people get more out of life. With offices in more than 20 countries, our investment teams offer a comprehensive range of active, passive and alternative investment opportunities. As of June 30, 2024, Invesco managed assets of 1.6 Bn. EUR for clients worldwide. For more information, please visit www.invesco.com/corporate.
About Invesco Private Markets
Invesco has global expertise and extensive resources in private markets. With our global investment platform and EUR 117 billion of real estate and private credit assets under management, we offer our investors both scale and deep expertise with over 600 investment professionals in 16 countries and over 40 years of innovative experience.
About Invesco Real Estate
Invesco Real Estate is one of the world’s leading real estate investment firms with EUR 79.3 billion in real estate assets under management, 613 employees and 21 regional offices in the US, Europe and Asia. For over 40 years, Invesco Real Estate has actively invested across the risk/return spectrum in direct real estate strategies such as core, debt, value-add and opportunistic, as well as listed real estate assets for over 400 institutional clients. Invesco Real Estate employs over 191 people in Europe across eight offices in London, Munich, Milan, Madrid, Paris, Prague, Luxembourg and Warsaw. Invesco Real Estate manages 205 properties in 14 European countries with assets under management of EUR 15.3 billion. The team has a wealth of experience across all three commercial sectors as well as hotels and residential real estate. As of June 30, 2024.
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Properties and land can be difficult to sell, so investors may not be able to sell such investments when they want to. The value of properties is usually estimated by an independent valuer and may not be realizable. The value of investments and the income from them are subject to fluctuation. This may be partly due to changes in exchange rates. Investors may not get back the full amount invested when they redeem their units. Important information
This marketing communication is intended for professional media only. This is marketing material and not investment advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements requiring impartiality of investment or investment strategy recommendations are therefore not applicable, nor is the prohibition on trading prior to publication. The views and opinions expressed are based on current market conditions and are subject to change at any time. Data as of December 4, 2024, unless otherwise stated. This document is issued in Germany and Austria by Invesco Real Estate Management S.a.r.l., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission de Surveillance du Secteur Financier in Luxembourg, and in Switzerland by Invesco Asset Management (Schweiz) AG, Talacker 34, 8001 Zurich. EMEA4070873/2024
