The transaction was financed through a long-term loan from an open consortium from the savings bank association headed by Deutsche Hypothekenbank, Hanover.
The 4-star hotel was built in 2007 and has a total floor space of approx. 40,000 square metres accommodating 533 rooms, a wellness area, six restaurants and bars, as well as 33 conference rooms with an event capacity of as many as 5,000 persons. The city centre can be accessed quickly via the A 44 autobahn and local public transport.
“Düsseldorf is a strong economic region as well as an important trading and transport hub in Germany with a very good growth prognosis,”
“Düsseldorf is a strong economic region as well as an important trading and transport hub in Germany with a very good growth prognosis,” explains Martin Suchsland, head of Asset Structuring Financial Products at Commerz Real.
“The hotel market is profiting from the increasing number of business travellers as a consequence of the numerous international companies and trade fairs in the city,” he added.
”Thus the metropolis on the Rhine registered some 4.98 million overnight stays in 2018 alone, an increase of some 3.5 per cent over the previous year. About 40 per cent of these were accounted for by international travellers.”