Union Investment buys Germany's Innside by Meliá Aachen

Innside by Meliá Aachen

Following the purchase of the Meliá Berlin, Union Investment is expanding in Germany by acquiring the Innside by Meliá Aachen for one of its real estate funds at an undisclosed price.

The property was developed and and sold by HPG Hotel Aachen GmbH & Co. KG, a limited partnership, one half of which is owned by HPG Property Group and the other half by Cebus GmbH & Co. KG. The new-build hotel, which is set to open in mid-2016 and is currently accepting reservations for early May, is fully leased on a 20-year program to Sol Meliá Deutschland GmbH, a wholly owned subsidiary of the Meliá Hotels International group. 

Dr. Christoph Schumacher, a member of the management team at Hamburg-based Union Investment Institutional Property GmbH, cited "growing demand in the Aachen hotel market" as a motivating factor for the sale. With other companies moving to the area, he expects demand to grow. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Source: Property Magazine International                        

Suggested Articles

Christoph Eichbaum has joined the investment management hospitality team headed by Andreas Löcher.

The revamped property will be developed in partnership with Mohari Hospitality.

Scheduled to open in 2021, the Radisson Blu Hoi An will be on Hà My Beach, eight kilometers from Hoi An, the port town on Vietnam’s central coast.