Acting as investor and project sponsor, CA Immo will complete the new hotel at Rembrandtstrasse 21 – and hand it over to the German operator, the MEININGER Group – by autumn 2011. MEININGER will lease the 132-room hotel for a period in excess of 20 years. The budget hotel chain provides comfortable, service-oriented accommodation for price-conscious travellers. With their latest offering in Vienna, they will hope to attract a younger clientele in particular. Internationally, the group has successfully extended its concept to ten hotels in six cities.

This latest hotel in Vienna's second municipal district will be centrally located between the expanse of the Augarten park and the Danube canal; the underground stations of Schottenring and Rossauer Lände are a short walk away and district one, with its wealth of entertainment, cultural and culinary attractions, is also within easy reach.

According to Oskar Kan, managing partner at MEININGER, “We will be operating within the parameters of our strategic concept at the new site in Vienna – meaning a central location with convenient transport links, good quality and low rates. The new property will be our second MEININGER hotel in Vienna alongside our MEININGER Hotel Vienna City Center in the 10th district. In line with our strategy of international expansion, we are planning to open another hotel in the second district in November 2011”.

Gerhard Kubik, district director for Vienna Leopoldstadt, believes that, “A long and difficult process is now reaching a conclusion. We considered a lot of ideas and plans, and now the best one – that put forward by the MEININGER hotel group – is being put into practice.Today we celebrate the topping-out ceremony for a hotel close to the city centre, a hotel with a highly attractive design and a credible financing plan behind it. This is a good day for the future of Leopoldstadt”.

Dr. Bruno Ettenauer, the CEO of CA Immo, stresses that, “This development project will fill a vacant site in a typical residential district of Vienna. Development of the site in this way has been made possible by constructive cooperation with representatives of the Vienna municipal authorities, residents and the MEININGER Group”. The shell of the building was constructed by the STRABAG building team in the short period of 5 and a half months. CA Immo built another hotel for the chain on Fürbergstrasse in Salzburg (attached to the Zentrum im Berg shopping centre), which was finalised and handed over to the operator MEININGER in April 2011. CA Immo will be investing up to € 16 m in the properties.

About MEININGER

The MEININGER Group operates 12 low-budget hotels in Berlin, London, Vienna, Salzburg, Munich, Cologne and Hamburg; five more are due to open by mid-2012. The company's enduring success is built on an impressive and intelligent concept of space, flexible bed and room structures and the creation of appealing social spaces in the public areas. Since it was established in 1999, the MEININGER Group has doubled its turnover every two years. Based in Berlin, the company currently has around 280 employees.

About CA Immo

CA Immo was founded in 1987. The company develops and invests in commercial real estate (with a focus on offices) in Austria, Germany and Eastern Europe. As at 31 March 2011, the company's total property assets amounted to some € 5.2 bn. CA Immo is listed on the Vienna Stock Exchange, with free float of around 83 % at the present time.

Please address any questions to:

CA Immobilien Anlagen AG
Susanne Steinböck
Tel.: +43 1532 590 7533
Email: steinboeck@caimmoag.com
www.caimmoag.com