German asset manager Deka Immobilien has acquired four hotels in Venice Mestre from Austrian developer MTK for a reported €200 million ($222 million).
The portfolio totals 749 rooms. The hotels opened in mid-2019 and include the 244-room Leonardo Royal Hotel Venice Mestre, the 175-room Staycity Venice Mestre, the 208-room 7 Days Premium Hotel Venice Mestre and the 122-room Wombat’s City Hostel Venice. Located adjacent to the Mestre railway station, all hotels were developed by the seller and are operated under 20-year lease contracts.
