Press Release
Deka Immobilien acquires hotel in Ireland
Frankfurt, 26.02.2025
Deka Immobilien has purchased the Ruby Molly Hotel in Dublin for approximately EUR 86 million. Creekvale Ltd., a company of the real estate investment manager ESR Group, sold the property. The hotel will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
The new building, completed in 2024, comprises a high-quality hotel that is fully and long-term leased to Ruby Hospitality Ireland Ltd., as well as a restaurant area on the ground floor. With a gross floor area of around 9,800 sqm, the 4-star hotel features 272 rooms equipped according to the "Lean Luxury" design and strategy concept. The renowned hotel operator Ruby Hotels GmbH, based in Munich, is making its market entry into Ireland with this investment.
The hotel is located in the heart of the city centre, north of Dublin's historic core, and has good access to Dublin's LUAS public transport system. Certification of the property with the sustainability building seal BREEAM with "Very Good" is being sought. The criteria of a Nearly Zero Energy Building (NZEB) are met.
With the acquisition of this core property, Deka-ImmobilienEuropa is strategically expanding its hotel share and taking advantage of an acquisition opportunity in one of Europe's most attractive hotel markets. At the same time, the fund management secures a high-quality, certified new building in a central location.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 411,5 billion (as at 30/09/2024) and more than 5.6 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. It provides private and institutional investors with access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe (Savings Banks Finance Group) and tailors its product portfolio to the requirements of its owners and sales partners in the securities business.
The Deka Group's global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for EUR 51 billion (as at 31/12/2024) in real estate assets.
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