Union Investment has acquired the Radisson Blu Amsterdam. The 252-room hotel opened in 1990 and is fully leased to Carlson Rezidor Group, with 22 years remaining on the lease. The property will be added to the portfolio of the UniInstitutional European Real Estate fund.
Details of the purchase price were not disclosed, reports Property Magazine International.
The hotel consists of a seven-story North Building and a South Building with six floors. In 1989, the two properties were linked by an underground corridor, with due regard being given to the historic building fabric. The hotel complex incorporates a former paper factory and several 18th century trading houses.
Union Investment's hotel portfolio is diversified across 22 brands, a range of segments and eight countries. It currently comprises 38 properties and projects worth around €2.1 billion. Alongside Amsterdam, Union Investment open-ended real estate funds currently hold Radisson Blu hotels in Berlin, Brussels, Krakow, London-Stansted, Manchester and Marseille.