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Internos acquires Hotel in Turin

Internos Global Investors has completed the €23.1mn acquisition of the NH Hotel Santo Stefano in Turin, Italy, as part of its Hotel Real Value Plus mandate, which was set up for a German institutional investor via the Master-KVG provided by Institutional Investment Partners. The seller of the four star hotel with 125 rooms is Italian property developer Immobiliare Galileo S.r.l. Early this year, Internos had bought the Triforum in Cologne for €53mn for this mandate. With the current transaction, the Triforum, and a further purchase currently under way, Internos will invest €130mn in hotel acquisitions in Germany, Italy and Spain this year. Up to €200mn are still available for the mandate for further hotel purchases.

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