The portfolio acquired by DTZ Asset Management, on the behalf of a French investor, includes hotels operated under the Wyndham and Mercure brands.
DTZ Asset Management announced the acquisition of a portfolio of four hotels in Germany for a French investor. The operation was realized with the group Grand City Hotels, number two hotel operator in the country, within a Sale & Lease Back agreement.
The portfolio includes hotels operated under the Wyndham and Mercure brands: two in the city of Cologne, near the train station, one in Bonn and one in Frankfurt, near the conference center. The four properties represent some 500 rooms and 25,000 square meters. DTZ Asset Management will provide management in the long term.
In this operation, DTZ Asset Management consulted MKG Hospitality for hotel market analysis, and LPA Allemagne and LPA France regarding legal and fiscal matters.
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