EPH European Property Holdings (EPH) has added a 180- room German hotel to its portfolio.
The €1.3bn investment firm, managed by Valartis International, has paid an undisclosed amount to buy the 15,550sqm hotel in Dresden rented out to Meliá Hotels International.
The property has 46 underground parking spaces, a spa, restaurant, 261sqm of retail space and meeting rooms for up to 230 people.
EPH said the latest acquisition is part of its on-going strategy to ”diversify its portfolio across major Western European markets, adding real estate investments in stable markets with a strong long-term economic outlook”.
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