In Frankfurt sold to the famous Le Méridien Parkhotel
The purchase price was not disclosed. However, we already know that it was the largest deal in the hotel market Frankfurt in 2015.
JLL acted as Advisor Kildare European Partners in the transaction for the sale of Le Méridien Parkhotel Frankfurt for 297 rooms German real estate investor Invest Real Estate Art.
The prestigious Le Méridien Parkhotel Frankfurt, which opened in 1905 and extended in 1970, now has 297 rooms of different categories, a restaurant, bar, conference facilities, fitness, Spa area and Parking. The facility is located in immediate proximity from the main train station of Frankfurt and the river main; easy access to business and exhibition centers of the city and the airport.
“Investors have a unique opportunity to acquire a well-established hotel in one of the financial centers of Europe – Frankfurt, the leading hotel market for business travelers in Germany. Since the opening of Le Méridien Parkhotel Frankfurt is one of the best hotels of the upper price segment of Frankfurt. During the sale we recorded a high interest in the asset from both local and foreign investors from many countries”, – comments senior Vice President Hotels & Hospitality Group at JLL of Sheima salloum.
“The sale of Le Méridien Parkhotel Frankfurt once again emphasizes the role of Frankfurt as an attractive investment market in Germany. Since the beginning of 2014 there are already registered 10 transactions with selected hotels totaling over €400 million This confirms the investors ‘confidence in the German hotel real estate market and continued high demand for this asset class”, emphasizes the Executive Director of Hotels & Hospitality Group at JLL, EMEA Christophe Charle.
We will remind, earlier this year Kildare Partners with the mediation team JLL has sold the Le Méridien Munich for 381 room in Central Munich German investment Fund DEKA l.