Sofidy, a subsidiary of Tikehau Capital, has acquired a portfolio of six hotels, totaling 902 rooms, in Germany.
The 6 hotels, which will be operated by B&B HOTELS, are ideally located in major German cities – Aachen, Bonn, Bremen, Duisburg, Düsseldorf and Frankfurt.
As part of this transaction, new 25-year leases were signed with the international hotel group B&B HOTELS , which took over the operations of these various establishments.
The portfolio will also benefit from an ambitious renovation plan for rooms and technical installations.
“Thanks to its economic strength, political stability and legal certainty, Germany is today one of the most popular countries in Europe. This transaction is perfectly in line with our investment strategy, which aims to adopt a prudent and selective approach. Indeed, with the acquisition of these hotels we have favored one of the most resilient economic segments in the current context, oriented more towards a domestic clientele. The very long firm duration of the operating leases also offers long-term visibility on the potential rental income of our Sofidy Europe Invest, Immorent and Efimmo 1 SCPIs as well as of our Société Civile Sofidy Convictions Immobilières”, says Jean- Marc Peter, CEO of Sofidy.
“This acquisition is a good reflection of our beliefs in hotel investment. The resilience of the economy and midscale segments no longer needs to be proven. The pitches are of a rare quality and we appreciate the seriousness and solidity of the operator B&B HOTELS, leader in its market in Germany with more than 165 hotels” specifies Jean-François Le Dren, Deputy Director of European Investments at Sofidy.
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