Kiel: Deutsche Immobilien sells hotel project to Ten Brinke
Deutsche Immobilien Entwicklungs GmbH has sold its “Bootshafen” project for two hotels and two residential buildings in Kiel to the Dutch company Ten Brinke Group. Ten Brinke intends to begin construction on the 25,000+ sqm GFA site in the fall, with finalization by the end of 2020. The investment volume is currently estimated at €70mn. Deutsche Immobilien has been promoting development of the property, formerly a market hall and C&A department store building, since 2015, including the launch of an urban planning competition. The Success Hotel Group has signed leases for the two hotels.
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