Düsseldorf: DWS buys three hotel projects for €157mn
DWS has acquired the GBI development of three hotels near Düsseldorf’s main station for its “grundbesitz europa” fund. The purchase contract was signed in August of last year. The purchase price is €157.4mn, a spokesperson told TD upon inquiry. A total of 32,700 sqm are to be developed on the 1.7 ha site on Harkortstraße according to plans by greeen! architects. The individual structures will be a 201-room Adina Apartment Hotel, a Hampton by Hilton (219 rooms), and a Premier Inn (297 rooms). Apcoa will be operating the underground garage with 238 parking spaces. A Block House steak restaurant will occupy 450 sqm. The groundbreaking ceremony was held yesterday (Tuesday), completion is scheduled for late 2021. This is also when the closing of the purchase contract will take place.
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