Korean asset manager buys hotel in Vienna

Asset manager Wealthcore Investment Management has plans to buy the Hilton Parkview in Vienna together with Korean asset manager Mastern Investment Management.

The sales price was more than €370 million ($415 million).

The sellers are two Austrian family offices represented by Invester United Benefits.

It is one of the largest congress hotels in Europe and one of the largest hotel transactions in Europe.

Mastern Investment Management acts for the three Korean investors Meritz Securities Co. Ltd., Hana Financial Investment Co. Ltd. and NH Investment & Securities Co. Ltd.

The approximately 50,000-square-meter (56,000-square-foot) property with its 660 rooms and 241 parking spaces is located in central Vienna’s best location on the city park. It is one of the top 10 city-center congress hotels of this capacity in Europe.

“By purchasing this landmark property, we were able to secure a solid and high-quality investment for us and the Ko