DUSSELDORF-Union Investment has acquired another hotel from Spanish operator Meliá Hotels International in the shape of the Meliá in Dusseldorf.
A remaining lease term of 16 years makes the 201-room hotel an attractive investment for open-ended real estate fund Unilmmo: Deutschland. Clifford Chance provided Union Investment with legal advice on the transaction. CBRE advised the seller, a fund managed by Pramerica Real Estate.
The 4-star superior hotel benefits from a very central, yet quiet location in the immediate vicinity of the old town, the main Königsallee shopping area and the Rhine. With some 14,000 sqare meters of gross floor space, the hotel is aimed equally at business travellers and leisure customers.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
