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Austrian Warimpex sells hotel in Krakow.

(ADPnews) - Sep 2, 2009 - Austrian real estate investor Warimpex Finanz- und Beteiligungs AG (WBAG:WXF) said today it sold its Andel's design hotel in Krakow, Poland, to German open-end property fund manager Deka Immobilien Investment GmbH.

It did not reveal any financial details but said that the sale had generated a very good return for the current market conditions and a net profit.

Warimpex was the sole owner of the hotel from February 2008 to the date of the sale, and will lease it back under a 15-year fixed lease. Vienna International Hotelmanagement AG will continue to manage the hotel.

Warimpex still holds two further hotels of the Andel's brand in its portfolio, in Berlin and Lodz, Poland.

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Publication:ADP News Austria
Date:Sep 2, 2009
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