Art-Invest invests in Erlangen and Munich

02/10/2015

Art-Invest Real Estate has purchased the Novotel Erlangen for its “Hotel-Manage to Core-Fonds” from an E&P Real Estate closed-ended fund. According to TD research, the deal played out at about €20mn. The 170-room, three-star hotel opened in 2001 is operated by Accor. Art-Invest was advised by JLL, KPMG, Drees & Sommer, and Warth & Klein. Art-Invest said that this buy brings its hotel acquisitions in 2015 to €280mn. The company, together with Accumulata, just recently bought the former Temmler area in Munich. The 26,400 sqm premises is on the corner of Berg-am-Laim-Strasse and Weihenstephaner Strasse. Temmler Werke, advised by BMI Immobilienmanagement and GSK Stockmann + Kollegen, was the seller. Wagensonner Rechtsanwälte and PriceWaterhouseCoopers Legal assisted the buyer. Art-Invest said that plans for the area’s usage were now being coordinated with the city.


TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.