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 per Key: €118,056
THPT Comment: More hotels for Magna to come?
First Seen: Thomas Daily of Germany