Hausinvest, Commerz Real’s open-ended real estate fund, has added a 13,500sqm hotel asset in Germany to its portfolio.
Hausinvest fund has invested an undisclosed amount to buy Steigenberger Hotel de Saxe, a four-star hotel in Dresden with 185 rooms.
Steigenberger Hotel de Saxe was built in 2006 and refurbished in 2019. The hotel has a restaurant, lobby bar, spa and wellness area, and conference rooms. The ground floor and lower level accommodate four retail areas of about 1,200sqm.
Dirk Schuldes, the global head of hospitality and shopping at Commerz Real, said: “Steigenberger Hotel de Saxe has been on our wish list for a long time now.
“For this reason, we are very pleased that we have been able to acquire it for our investors in the framework of an off-market transaction.”
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