Patrizia acquires B&B Hotel Berlin Tiergarten for its special fund PATRIZIA Hotel-Invest Deutschland IDhe hotel has 186 rooms and 19 parking spaces with 10 e-charging stationsArt-Invest Real Estate acquired the project in 2015 and completed it in 2016
Art-Invest Real Estate has sold the B&B Hotel Berlin Tiergarten to PATRIZIA. The buyer is the special fund “PATRIZIA Hotel-Invest Deutschland I”. The property is leased to B&B Hotels on a long-term basis. The parties have agreed not to disclose the purchase price.
The nine-storey hotel with 186 rooms and 19 parking spaces is located on Englischer Straße in Berlin’s Charlottenburg district. Art-Invest Real Estate acquired the project in 2015 as part of a portfolio deal, developed it and completed it in 2016. Due to its high-quality architecture with a striking natural stone façade and its central location, the property is considered one of the outstanding hotels in the portfolio within the B&B Hotels brand.
During the approximately eleven-year holding period, the hotel proved to be a stable and sustainable investment. Despite challenging market phases, including the effects of the Corona pandemic, the property generated continuous income for investors in the “Hotel Manage to Core” fund.
“With the sale of B&B Hotel Berlin Tiergarten, we are completing a successful investment that covers the entire life cycle of a property from development to asset management and disposal. The sale is further proof of the successful implementation of our manage-to-core strategy and long-term value creation across the entire investment cycle. The transaction underlines our ability to achieve attractive results for our investors even in a challenging market environment,” says Dr. Peter Ebertz, Managing Director and Head of Hotels at Art-Invest Real Estate.
BNP Paribas Real Estate was exclusively mandated as broker on the seller’s side. Legal advice was provided by Jones Day on the seller’s side and Gowling WLG on the buyer’s side.
