Invesco sells four Intercity hotels to investors from Oman
The Al Zaman Group of Oman has bought a portfolio of four Intercity hotels from Invesco Real Estate. The properties in Darmstadt (Poststraße), Mainz (Binger Straße), Rostock (Herweghstraße), and at Frankfurt Airport (Am Luftbrückendenkmal) are leased long-term. Invesco had acquired them in 2014 for €80mn for a British investment mandate. The current sale price has not been released. Hotel specialist Feuring advised Al Zaman and will also handle the asset management for the portfolio. Al Zaman explains in a release that they have been interested in European hotel property for some time, and intend to buy further new or recently refurbished establishments. According to a statement, the conglomerate does business through share-holdings and direct investments in real estate and other sectors in Northern Africa, Asia, and Europe. The buyer was legally advised by the law firms of Kucera Rechtsanwälte of Darmstadt and DLA Piper of Amsterdam.
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