Magna Buys Holiday Inn Express hotel in Oberhausen

Date: March 2018

Location: Oberhausen, Ruhr area, North Rhine-Westphalia, Germany

Name: Holiday Inn Express to open 2019

No. of Keys: 144

Seller: Oberhausen project developer Plassmeier

Buyer: Magna Asset Management, for an individual fund of Babcock Pension Fund. Magna is overseeing the Spezial AIF, with a target volume of approx. €100mn;

HansaInvest is responsible for the fund’s management.

Magna has already invested €6mn in a vacation property on Rügen, and is presently examining a portfolio in North Rhine-Westphalia.

The goal of the fund is to develop a mixed and risk-diversified portfolio, says Magna CEO David Liebig.

Price: €17m

Price per Key: €118,056

THPT Comment: More hotels for Magna to come?

First Seen: Thomas Daily of Germany