France’s Atream Buys NH Erlangen Hotel for €16.8m

Main Photo: The NH Hotel Erlangen

Date: May 2020

Location: Erlangen, Germany

No. of Keys: 138

Seller: German group Patrizia, a major player in the pan-European real-estate investment game. They have a written criteria for hotel purchases, which includes locations and their desire is for lease agreements of 15 years.

Buyer: Paris-based independent asset manager Atream has acquired for €16.8m the NH Erlangen Hotel, on behalf of its SCPI fund Atream Hotels.

The NH Erlangen Hotel, renovated in 2016, is a four-star hotel with 138 rooms, a bar-restaurant and a seminar area. The acquisition of this asset is accompanied by a long-term lease with the NH group, a chain boasting more than 350 hotels in 28 countries.

Marking Atream Hotels’ fifth acquisition in Germany, the transaction is part of the SCPI’s strategy of investing in hotel properties located in major cities in the euro zone and operated under long-term leases by strong international brands.

“With now five hotels in Germany, Atream is pursuing its strategy defined for the SCPI Atream Hotels and, through its investments, is supporting the tourism industry in Europe,” says Pascal Savary, Chairman of Atream. “We are delighted to support a partner like NH Hotel Group, and to have built a long-term investment solution for our investors.

Price: €16.8m

Price per Key: €121,739

THPT Comment: Atream growing nicely with this, their fifth hotel in Germany…will Patrizia be looking to dispose of more?

First Seen: Business Immo

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