Internos Global Investors has completed the €23.1 million acquisition of the NH Turin Santo Stefano from Immobiliare Galileo S.r.l. as part of its Hotel Real Value Plus "Value Add" mandate via the Master-KVG provided by Institutional Investment Partners. The hotel, Property Magazine reports, is operated under a long lease containing fixed and variable rent components from the Spanish NH Hotel Group.
"The acquisition of the NH Turin allows us to add value via property level asset-management initiatives and the conversion of the previously existing management agreement into a long-term lease at closing and adds geographical diversification to the growing portfolio," Jochen Schaefer-Suren, Partner managing Internos' Hotel and Leisure division, told the magazine.
With this opening, the number of hotels managed by Internos has increased to 15 hotels with a total value of nearly €500 million since foundation of the hotel and leisure division in 2011.