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Two New Hotels in Berlin by Invesco
Invesco Real Estate has become the owner of two new properties in Berlin, Germany. The company has purchased the newly built hotels located in the center of the city on Alexanderplatz. The sum of the deal estimates €60 million (US$79.1 million). The former owner of these properties is Azure Property Group. Together with these newly acquired properties Ivesco’s portfolio contains 25 hotels.
The two hotels in Berlin are the 153-guestroom Indigo hotel and 242-guestroom Holiday Inn Hotel. Both properties started working on May 1. Even though the owner of these properties has changed, Azure Property Group will continue managing these hotels under franchise agreement with InterContinental Group.
Alexanderplatz is a popular location in the heart of the German capital, so this strong point may only add more popularity to the new hotels. The management of Invesco commented the purchase telling they are always in a search for quality midmarket assets with good location. These hotels will make a good addition to the company’s portfolio thanks to their geographic location. These are first accommodations in Berlin owned by Invesco.
Invesco is an investment company with 25 hotels across Europe. The company’s portfolio consists of 25 middle market hotels with more than 5,500 guestrooms in total. The total cost of the assets exceeds €925 million (US$1.2 billion).
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