Invesco Real Estate (IRE) has announced that its hotel fund management and debt finance teams have signed a EUR 109 mln refinancing deal with Aareal bank for four hotels. Three of the hotels are had originally been purchased with 100% equity, for IRE's first hotel fund.

Invesco Real Estate (IRE) has announced that its hotel fund management and debt finance teams have signed a EUR 109 mln refinancing deal with Aareal bank for four hotels. Three of the hotels are had originally been purchased with 100% equity, for IRE's first hotel fund.

The fund is now almost fully invested with over EUR 655 mln of assets under management following the latest acquisition at the end of September of Vienna's Mercure hotel Biedermeier. The acquisition marked the hotel fund's 16th hotel.

IRE is planning the launch of a second hotel fund in early 2011.