INTERNOS Global Investors, the pan-European owner-managed real estate fund manager with €3.6 bln AUM, has completed the €53 mln acquisition of the Triforum complex in Cologne as part of its Hotel ‘Value Add’ mandate via the Master-KVG provided by Institutional Investment Partners from Hamburgische Immobilien Handlung (HIH).
The 24,000 m² Triforum complex incorporates a Park Inn Hotel and circa 15,000 m² of office space. The hotel is operated on a long lease under the Park Inn brand and the office space is fully let to high quality tenants. This 4* hotel has 205 rooms, a restaurant, bar, wellness and fitness area and twelve conference rooms. The Triforum is strategically located near Cologne’s city center. The property was acquired on behalf of the Real Value Plus Hotel ‘Value Add’ mandate given the various opportunities to add value to this property in addition to its strategic location, the quality of the modern buildings and extremely attractive financing conditions.
Jochen Schaefer-Suren, Partner managing INTERNOS’ Hotel and Leisure division and the portfolio manager of this value add mandate, commented: “The acquisition of the Triforum combining a hotel and office complex offers an opportunity to add value via a separation of these two assets and a successful asset management program. We are proud that with this acquisition, the number of properties in the INTERNOS hotel portfolio has increased to 15 hotels since 2012 with a total value of nearly €500 mln.”