Art-Invest Real Estate is on the verge of acquiring the Maritim Hotel in Cologne from a closed end fund of Commerz Real, according to a filing on the website of Germany's national competition regulator, Bundeskartellamt.

handshake close up of executives 1098 1384

Art-Invest buys Cologne's Maritim Hotel for €120m

German press reports put the price at €120 mln.

Built in 1988, the four-star hotel comprises 454 rooms, of which 28 are suites, as well as several restaurants and meeting facilities for 1,630 people.