PropertyEU

Colonia sells hotel portfolio for EUR 24m

By A staff reporter 2008-11-14T00:00:00

Cologne-based Colonia Real Estate has sold its hotel portfolio of three German assets to two unnamed foreign investors for EUR 24 mln. Colonia said the price reflected the current fair market value of the properties. The cost basis for the hotels, which were acquired in 2004, was about EUR 22 ...

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