Europe Hotel Transactions Bulletin - Week Ending 7 May 2021
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Turm am Mailänder Platz hotel development in
Stuttgart, Germany from Austrian developer
STRABAG Real Estate for
€137 million. The forward sale includes 429 rooms across two new-build hotels, collectively €320,000 per room, being a 169-room
Adina Aparthotel and a 260-room
Premier Inn. The development, which is scheduled to complete in December 2021, is located in Stuttgart's Europa district close to the new main railway station. The acquisition, which will be added to the buyer's open-ended real estate fund
Unilmmo: Deutschland, follows a six month hiatus from the buyer on any new hotel investments on account of coronavirus.