Press Release on 25 April 2014
DTZ Asset Management acquires
on behalf of a French client
within a “sale-and-lease-back-transaction”
four hotels in Germany
Munich, 25 April 2014 – LPA has advised DTZ Asset Management on the purchase of a German hotel portfolio from Grand City Hotels by way of an asset deal. On behalf of a French client 4 hotels were acquired.
The Hotel Mercure Bonn Hardtberg, the Hotel Wyndham Cologne, the Hotel Tryp Cologne Centre and the Hotel Tryp Hotel Frankfurt Messe comprise a total area of more than 25,000 square meters and 500 rooms, which are to be leased back on a long-term basis to the Vendor. DTZ Asset Management will manage this investment.
DTZ Asset Management based in Neuilly-sur-Seine, France, assists their clients regularly in this type of investments in Germany with attractive long-term potential returns.
The Purchaser is a French insurance company.
The Seller is Grand City Hotels, a leading hotel operator in Europe owning more than 13,000 rooms and accommodating more than 3 million guests yearly. Grand City Hotels is the second largest hotel operator in Germany.
LPA Munich: Dr. Fabian Tross (Partner, Real Estate), Dr. Bernd Spieth (Partner, M&A, Tax)
LPA Frankfurt: Dr. Oliver M. Hübner, LL.M. (Public Law)
LPA Paris: Silke Nadolni, MRICS (Partner, Real Estate)
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|Dr. Fabian Tross|
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