Invesco European Hotel Real Estate Fund Sells Radisson Blu Hotel in Hamburg
Frankfurt am Main – Paul Hastings advised Invesco European Hotel Real Estate Fund, a fund for institutional investors specialized on hotel real properties on the sale of the Radisson Blu Hotel at the Dammtor Station in Hamburg to Azure Hotels.
The 109m tall, 42 years old Hotel tower with 556 rooms is the second tallest building in Hamburg after the Elbphilharmonie, which is expected to profit from the modernization of the adjacent Congress Center Hamburg (CCH) to be finished until 2019. The deal also involved associated debt restructuring components and forms part of wider European disposal program for Invesco.
The Paul Hastings Team consisted of London Partners David Ryland and Mark Rajbenbach (both Real Estate), Frankfurt Partner Dr. Jan Gernoth (Real Estate) as well as the Frankfurt tax advisor Uwe Halbig and Frankfurt Associates Denis Sattler, Fritz Kleweta and Hannes Riedel (all Real Estate).