ECE has sold the 25hours Hotel currently under development in the Düsseldorf Le Quartier Central quarter to Patrizia Immobilien AG. The hotel is being developed by ECE and will be operated by the 25hours Hotel Company on a long-term lease. The 18-storey hotel with 198 rooms is scheduled for opening in spring 2018. Construction is projected to commence in the middle of 2016. PATRIZIA acquired the property for a special real estate fund, and had been purchased by ECE from Aurelis Real Estate in September 2015.
Dr. Andreas Mattner, managing director of ECE's office, traffic, industries division said: “We are pleased about the excellent cooperation with Patrizia and delighted that we could sell the property successfully. This transaction reflects the trust of the market in ECE and in our ability to develop high-quality hotels.”
The 25hours Hotel is being built at Louis-Pasteur-Platz in Düsseldorf’s new Le Quartier Central district. Like the company’s other locations, the hotel’s design will draw on the theme of the district and will contain typical German and French design elements. The property will house a bar on the top floor with a view across the city, as well as a French-style restaurant one floor below. A coffee shop and a bike repair shop will take the ground floor of the property which is under development in collaboration with HPP Architekten. It is the first 25hours Hotel branded hotel in Düsseldorf.
JLL Hotels & Hospitality advised ECE on the transaction, with White & Case providing legal support.
