German investment firm Conren Land AG has acquired the 163-room Villa Kennedy hotel in Frankfurt for a reported €95 million (€523,000 per room) from GEG German Estate Group. GEG is a subsidiary of DIC Asset AG, one of Germany’s largest listed property companies. GEG originally acquired the asset in 2015 for a reported €80.9 million (€496,000 per room). The hotel is leased to luxury operator Rocco Forte until 2024.
French real estate investors Eternam and operator Atypio Group have acquired a portfolio of three French hotels with 207 rooms for a reported €15 million (€72,000 per room) from French investment managers 123 IM. The full-service properties include the 76-room Mercure Tours Sud in Joue-les-Tours, the 76-room Hotel Campanile Lille and the 55-room Hotel Campanile Montesson. The assets will be operated by Atypio.
French private equity firm Extendam has acquired a portfolio of two hotels with 305 rooms in Noisy-le-Grand outside of Paris for an undisclosed price. The off-market transaction was reportedly negotiated throughout 2020, before closing this month. The portfolio includes the 144-room Novotel Marne-la Vallee and the 161-room Hotel ibis Marne-la-Valle Noisy. The properties are expected to undergo significant renovation works, with Extendam set to refurbish one quarter of the ibis’s rooms and all of the Novotel’s rooms.
Israeli investor group Natsiba has acquired the 44-room Hotel Cortes in Barcelona for €9 million (€205,000 per room) from entrepreneur Rafael González Bonilla. Natsiba primarily specialize in developing and managing residential and commercial projects, mainly in Israel, but also in Europe. The Hotel Cortes is expected to be fully refurbished.
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