Commerz Real acquires hotel project in Berlin from IVG Development (DE)

Commerz Real signed the deed for the "InterCityHotel Berlin Airport" project development in Berlin. Seller was IVG Development GmbH, the project development division of IVG Immobilien AG. The deal was transacted within the framework of a forward sale: Following its prospective completion in the first quarter of 2010, the hotel property will be added to the property trust fund of the ProCommerz institutional fund.

The total investment volume comes to approximately

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