Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, has announced that it has provided a €280 million financing facility for the INVESCO European Hotel Real Estate Fund advised by INVESCO Real Estate. The facility will be used for the acquisition of hotels across Europe in the value oriented, mid market and limited service hotel sector, operated by established national or international hotel chains. The transaction completed on 24 April 2007.
INVESCO's European Hotel Real Estate Fund enables institutional investors to invest in established commercial real estate as well as emerging real estate asset classes, providing returns that, on average, are forecast to be higher than the traditional commercial real estate asset classes. The Fund is advised by INVESCO Real Estate which has more than 5.4 billion of real estate assets under direct management in Europe and a proven track record in international real estate investment.
Commenting, Harin Thaker, CEO Europe Hypo Real Estate Bank International, said, "We are delighted to provide INVESCO Real Estate with a highly structured product for its European Hotel Real Estate Fund. The provision of this facility on a pan-European basis again demonstrates our ability to provide the financing solutions required by our clients to support their businesses."
Source: Hypo Real Estate