INTERNOS sells Steigenberger Hotel in Osnabrück (DE)

Internos (Spezialfondsgesellschaft mbH) has sold the Steigenberger Hotel Remarque in Osnabrück, Germany, to a private investor.
It has been agreed, by both parties, not to disclose the purchase price. The 4-star hotel built in 1998 has 156 rooms and is operated as a Steigenberger Hotel by the Arcona hotel group under a lease agreement. It was acquired by the EURO PROPERTY 1 fund in 2005.
The EURO PROPERTY 1 fund is managed by Internos Spezialfondsgesellschaft mbH. The fund invests in a balanced portfolio with regional and sectoral diversification which comprises office, logistics, retail (specialist store centres) and hotel properties. Following the sale of the Steigenberger Hotel, the portfolio now does not hold any more hotels.
The EURO PROPERTY 1 fund is currently invested in nine properties located across five European countries and worth around €218 mln in total. Other locations in Germany are Duisburg, Mainz and Hanover.
Source: TargaCommunications