Center Parcs Allgäu, one of the largest and most recent sites owned by the Pierre & Vacances - Center Parcs group, has just been acquired by TwentyTwo Real Estate, an independent group dedicated to property investment in Europe, from Batipart.

Located in south-west Germany, close to Munich, Stuttgart and Zurich, Center Parcs Allgäu opened its doors in 2018. The site covers 184 hectares and is home to 1,000 cottages rented and operated by the Pierre & Vacances - Center Parcs group.

The acquisition covers 750 of the 1,000 cottages as well as the main sports and leisure facilities. The transaction was carried out by the TwentyTwo Real Estate Fund III and its affiliates with Lagune International, an investment vehicle managed by Batipart.

The deal enables TwentyTwo Real Estate to continue its pan-European expansion by investing in a fast-growing sector. The group's aim is to capitalise on the trend towards nature-based tourism, which has been booming since the health crisis. This acquisition also meets the objective of selecting assets with robust performances in an inflationary environment.

Lastly, this acquisition is also in line with TwentyTwo Real Estate's CSR policy, which is focused on creating sustainable value. Center Parcs d'Allgäu has an ambitious CSR plan, in line with the PVCP Group's ambitions, which has been taken into account from the outset of its construction. The site has obtained several certifications, including Gold DGNB, and is also ISO 14001 and ISO 50001 certified.

This investment underlines our strong interest in leisure and destination hotels, and in particular in positive-impact tourism assets that occupy a benchmark position in their local market. We are delighted to have acquired the majority of this portfolio, which is the largest hotel in Germany in terms of revenue. This acquisition is also the largest transaction involving a hotel asset in Europe since the start of the year.

Daniel Rigny, Founder and Chairman of TwentyTwo Real Estate