Patrizia Immobilien has acquired two Marriott hotels in Munich from investors Reiß & Co. Real Estate München and E&G Bridge Equity Fonds, managed by E&G Financial Services.
Patrizia Immobilien has acquired two Marriott hotels in Munich from investors Reiß & Co. Real Estate München and E&G Bridge Equity Fonds, managed by E&G Financial Services.
Financial details were not disclosed.
Built in 2011, the Courtyard and the Residence Inn hotel assets in Munich's Haidhausen district provide 16,000 m2 of total space over 352 rooms and 260 parking spaces.
They are managed by operating company SV Group on behalf of Marriott International under a 20-year lease.
'The fact that both hotels have had excellent occupancy rates virtually from the day they opened is undoubtedly also due to their prime location,' commented Oliver Reiß, managing director and owner of Reiß & Co.
