Ibis Munich City West (1 / 2)
Internos to announce the recent exchange of contracts for the acquisition of two new hotels - the Ibis Munich City West, Germany, and Ibis City Centre The Hague, Netherlands, - for a total investment of €37 million on behalf of the Internos Hotel Real Estate Fund. The acquisition of the Ibis Munich City West closed this week and the closing of the Ibis The Hague City Centre is planned in the coming weeks. These two acquisitions represent the fifth and sixth hotels Internos has acquired for the Internos Hotel Real Estate Fund. The hotels were acquired in two separate transactions from private vendors. Both hotels are existing properties with strong cash flow track records, are well located in strategic locations in their respective cities and operated under long leases by the Accor Group.
The Fund is structured as a German „Spezialfonds“ operated by Internos Global Investors Kapitalanlagegesellschaft (KAG). Based on additional equity raised from the seed investors and new investors since the first closing the target Assets Under Management (AUM) volume size is forecast to reach or even exceed €300 million. The fund manager is Jochen Schäfer-Suren, Internos Partner in charge of Internos’ Hotel & Leisure division, who together with Internos’ dedicated Hotel and Leisure team works closely together with Paul Muno, Partner and Managing Director of the Internos KAG and the Internos team in Germany.