Foncière des Régions, through its subsidiary Foncière des Murs, and MEININGER Hotels signed an agreement for a new MEININGER Hotel in Munich located on Landshuter Allee, close to the Olympic Park. This is the first joint hotel project of Foncière des Régions and MEININGER, who announced a strategic investment partnership in December 2014.
The MEININGER Hotel Munich Olympic Park is going to be the second MEININGER hotel in Munich and is scheduled to open by the end of 2017. Located in a former office building, the property will be converted into a hotel. MEININGER will lease the premises from Foncière des Régions for an initial term of 20 years. This operation represents a total investment of €29.5 mln for Foncière des Régions who acquires this property from the Alstria office REIT-AG.
The hotel will have a gross floor area of 12,382 m², including underground parking.
Source: Foncière des Régions