Commerz Real has bought the Maritim Hotel at Düsseldorf Airport City for €162m by way of a sale-and-leaseback deal.
Commerz Real said the acquisition of the 4-star hotel was financed through a long-term loan from an open consortium from the savings bank association headed by Deutsche Hypothekenbank, Hanover.
The hotel has been leased to Maritim Hotelgesellschaft for 30 years.
Built in 2007, the hotel has a total floor space of 40,000sqm accommodating 533 rooms, a wellness area, six restaurants and bars, as well as 33 conference rooms.
Martin Suchsland, head of asset structuring financial products at Commerz Real, said Düsseldorf is a strong economic region as well as an important trading and transport hub in Germany with a very good growth prognosis.
“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.”