Union Investment sells Hamburg hotel and office property to Plaza Hotelgroup

Union Investment has successfully sold a hotel and office property in Hamburg to Plaza Hotelgroup GmbH, a family-run hospitality company based in Heilbronn. The property, located at Holstenkamp 1-3 and Kieler Strasse 143-147, was part of the immofonds 1 portfolio, an open-ended real estate fund marketed exclusively in Austria. The sale was completed at a profit, though the financial details of the transaction have not been disclosed.

Built in 1998, the mixed-use building has been a stable income-generating asset for Union Investment over its ten-year holding period. It offers a total lettable area of 10,315 square meters, including 3,500 square meters of office space and a 180-room hotel.

The new owner, Plaza Hotelgroup, is a leading European hospitality company operating 60 hotels with over 8,000 rooms across Germany, Austria, and the Netherlands. The acquisition aligns with the group’s expansion strategy in key locations.

The transaction was brokered by Lütgen Breiholdt Immobilien, further reinforcing Plaza Hotelgroup’s growth in the Hamburg market.