21 January 2018
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Commerz Real invests €2B in global hotel fund

12 January 18 - RE+D Magazine
Commerz Real invests €2B in global hotel fund

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Commerz Real, which plans to invest around €2billion globally for its new hotel fund, has acquired its first assets in Australia.

 

Commerz Real Capital-Management Company Kapitalverwaltungsgesellschaft (KVG) has bought two hotels from the Ibis and Mercure brands in Brisbane for around €50million.

According to realassets.ipe.com, the 3-star Ibis Hotel has 218 rooms on 17 floors; the 4-star Mercure Hotel has 194 rooms on 16 floors.

The German fund manager said both hotels will be operated by a subsidiary of the Accor Group. The fund will target an annual return of about 6% for professional and semi-professional investors.

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