Paul Hastings Advises IREMIS in Acquisition of Pullman Hotel in Germany
Paul Hastings LLP advised Luxembourg specialist real estate investment manager IREMIS in connection with its acquisition of the landmark Pullman Hotel in Dresden, Germany, from Covivio Hotels for approximately €30.5 million. This is the first acquisition for IREMIS Hotel Real Estate Fund I.
The four-star hotel offers 319 rooms, a restaurant, and conference rooms and is located between Dresden's main railway station and the historic old town. The hotel will initially operate under the Occidental Hotels & Resort brand, while benefiting from a substantial refurbishment and thereafter trade under the Barceló Hotels & Resort brand.
The transaction included the negotiation and conclusion of a long-term lease agreement for the hotel with its new operators.
The Paul Hastings team included partners Dr. Jan Gernoth and Dr. J. Melchior Raiser, associates Johanna Mayer and Dr. Maren Abraham, and tax advisor Uwe Halbig.
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