German fund closes in on €130m purchase of five-star Marker Hotel

The Marker Hotel, located at Grand Canal Dock, has 187 guest bedrooms.

The Marker Hotel, located at Grand Canal Dock, has 187 guest bedrooms.

 

German global real estate investment group Deka Immobilien is closing in on a deal to acquire Dublin’s five-star Marker Hotel for about €130 million.

The sale of the hotel by CBRE follows several reverse inquiries in recent years from prospective purchasers to its current owners, Midwest Holding AG, and an investor group led by Kevin McGillycuddy’s Brehon Capital Partners.

Deka’s purchase of the Marker Hotel comes just two years on from its acquisition for €87 million of the four-star Gibson Hotel at Point Square in Dublin’s north docklands.

In 2016, the German fund made its first foray into the Dublin hotel market, paying US private equity giant Blackstone €182 million to secure ownership of the former Burlington Hotel in Dublin 4.

Located at Grand Canal Dock, the Marker Hotel comprises 187 guest bedrooms. In terms of amenities, the hotel’s current offering includes the Brasserie and Marker Bar, luxurious spa facilities, the Marker Rooftop Bar & Terrace and extensive conference and banqueting rooms.