CA Immo's Vienna-based subsidiary Vivico Real Estate said it has sold the Movenpick hotel in Frankfurt to German investor Union Investment Real Estate for EUR 63 mln, including costs. Union Investment will add the property to the portfolio of its open-ended ImmoInvest: Europa fund for institutional investors. Atisreal advised Vivico on the deal.
CA Immo's Vienna-based subsidiary Vivico Real Estate said it has sold the Movenpick hotel in Frankfurt to German investor Union Investment Real Estate for EUR 63 mln, including costs. Union Investment will add the property to the portfolio of its open-ended ImmoInvest: Europa fund for institutional investors. Atisreal advised Vivico on the deal.
The four-star hotel was built by Vivico in 2006 and leased to the Movenpick hotel chain with a 20-year rental agreement. It has 288 hotel rooms, 130 parking spaces as well as conference and fitness facilities.
