Hamburg-based Lloyd Fonds has acquired a hotel development in Sylt, northern Germany, for EUR 24.4 mln. The seller, real estate company GBI, will retain a 5.1% interest in the project, which is to provide some 17,000 m[sup]2[/sup] of four/star hotel space.
Hamburg-based Lloyd Fonds has acquired a hotel development in Sylt, northern Germany, for EUR 24.4 mln. The seller, real estate company GBI, will retain a 5.1% interest in the project, which is to provide some 17,000 m2 of four/star hotel space.
The hotel site, which is expected to open its doors in June 2007, offers 178 rooms. It will be operated by TUI, German newspaper Immobilien Zeitung reported.
