Pramerica Real Estate Investors on behalf of ist open ended fund TMW Immobilien Weltfonds has acquired a project development in Düsseldorf. At the end of 2008 a four star Mövenpick hotel will be built in a good city location of Düsseldorf.
Inselstraße on the northern edge of Hofgartens is an ideal location for a hotel. It is a quiet place but with an extraordinary good connection to the city and the airport", explains the Weltfond´s managing director and portfolio manager Sebastian Lohmer.
Once built the hotel will have a size of 200 beds, it is let to the international hotel chain Mövenpick. The swiss mother company guarantees fot the leasing contract. The Investment volume is around €40 Mil.
Hotels are a useful mean of diversification of our users structure within the funds´ portfolio," says Lohmer, explaining the latest acquisition of Pramerica´s open ended fund.
Source: Pramerica Real Estate Investors