Europe Hotel Transactions Bulletin - Week Ending 7 August 2020
Investment manager BNP Paribas REIM has acquired the Hotel BOLD Munchen Giesing from the German-based Morten-Gruppe for an undisclosed price. The 142-room budget hotel in the centre of Munich will be the first property added to "BNP Paribas MacStone," which is the company's new open-ended real estate fund exclusively for private customers. The operator has agreed to a new 20-year lease with extension as part of the sale.
UK-based Vine Hotels has acquired the Charlecote Pheasant hotel in Warwickshire, UK from American equity fund Lone Star for an undisclosed amount. Prior to the purchase, the 70-room countryside hotel was in administration. Lone Star acquired the property in 2014 as part of a £1 billion acquisition of MREF assets, which included 46 Shearings hotels and 21 Moorfield hotels across the UK.
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