BERLIN-Invesco Real Estate has purchased two newly-built four star hotels at Alexanderplatz in Berlin for approximately EUR 60 million. The real estate investment manager bought the hotels in a sale and leaseback deal with Azure Property Group.
The two hotels are leased to Azure Property Group on a long-term basis. Azure will manage the hotels under a binding contract with InterContinental Hotels. The properties include a 153-room Indigo hotel and a 242-room Holiday Inn. For the full story, go to PropertyMall .
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