Dogus to sell Villa Magna Madrid to RLH Properties

Mexican banker Allen Sangins-Krauses luxury hotel investment vehicle RLH properties is reported to be acquiring the 150-room Hotel Villa Magna in Madrid for 210 million (1.4 million per room). Seller of the hotel is the Turkish group Dogus Holdings, which acquired the hotel in 2016 for 180 million, and are reported to be under pressure due to the depreciation of the Turkish Lira earlier this year. Once the deal closes, the Villa Magna will join RLHs other luxury hotel holdings including the Four Seasons Mexico City and the Rosewood Mayakoba.

CDL Hospitality acquires the Hotel Cerretani Florence MGallery

CDL Hospitality Trust, the Singaporean REIT, has paid 40.6 million for a 95% stake in the Hotel Cerratini Florence, MGallery by Sofitel, reflecting a value for 100% of the hotel of 42.7 million (497,000 per room). The 86-room property in Florences centre is CDLs first acquisition in Italy, which it has made in conjunction with EVENT Hotels, who retain a 5% ownership stake. The hotel will continue to be managed by EVENT under the MGallery brand, on a 20-year lease contract, reflecting a reported yield of 4.6% for CDL.

Corestate buys Moxy in Darmstadt, Germany

Hannover Leasing, an affiliate of Corestate Capital, has acquired a mixed-use development including a 178-room Moxy Hotel plus a 9,200 sqm office complex in Darmstadt, Germany. The property opened in November 2018 in Darmstadts Telekom-City and was developed by Unit Gesellschaft fr Projektentwicklung. It will be operated under a 20-year lease agreement by the Odyssey Hotel Group.

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