Munich-based hospitality group Motel One has sold two hotels in Berlin and Nuremberg to LHI Leasing for a total of €77 mln. The hotel operator will lease back the assets.
The deal for the properties at the Berlin main station (Invalidenstraße 54) and in Nuremberg-Plärrer (Steinbühlerstraße 13) follows the disposal of its Munich-Sendlinger Tor and Berlin-Hackescher Markt properties in a sale-and-leaseback arrangement with LHI.
According to Motel One, the transaction represents a book profit of €47 mln. The German hotel group currently operates 56 properties in Germany, Austria, Switzerland, Czech Republic, the Netherlands, Belgium and the UK. Further properties are under construction in Paris, Barcelona and Warsaw.
