BNP Paribas Real Estate Investment Management (REIM) has announced the acquisition of three Ibis hotels, built between 2012 and 2016, located in Munich.
BNP Paribas Real Estate Investment Management has acquired three economy hotels in Munich representing a total of 410 rooms.
The IBIS Munich City-East, delivered in 2015, has 167 rooms and is located in the suburbs of Berg am Laim in Munich, between the city centre and the conference centre.
IBIS Munich City-South, delivered in 2012, has 133 bedrooms and is located in the Obergiesing-Fasangarten suburb of Munich.
IBIS Munich Airport, delivered in 2017, has 110 rooms and is located close to Germany's 2nd airport with 44 million passengers.
"These investments are in line with the strategy of both funds, namely to seek stable and secure cash flow in a highly liquid market. The hotel sector in Munich offers an excellent opportunity for diversification with a balanced clientele in the leisure and business segment. The positive long-term outlook for the Munich hotel market should also contribute to the appreciation of the value of these assets. "says BNP Paribas REIM.
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