DWS has acquired The Sebel Hotel in Canberra in an off-market transaction on behalf of one of its major European real estate investment funds from the Zapari Group.
Opened in June 2019 following an extensive refurbishment, the 4.5-star hotel comprises 144 brand new, apartment-style hotel rooms over 10 floors. The hotel will be operated by Pro-invest Group under the Sebel flag.
James Bartlett, head of real estate, Australia at DWS said the attractive outlook for Canberra hotel market fundamentals, combined with the asset’s prime location, makes for a compelling investment proposition.
He added: “We are pleased to have secured this off-market opportunity, and we look forward to working with Pro-invest Group to enhance the hotel’s operational performance.”
This acquisition follows the acquisition in 2019 of the 50 per cent freehold interest in a prime, refrigerated distribution centre located in Parkinson, Queensland.