PATRIZIA Immobilien AG has acquired the famous ARCOTEL Camino in Stuttgart. The four-star hotel, built in 2007, was bought for a special real estate fund. The seller is a subsidiary of HCI Development Fonds I GmbH & Co. KG, a closed real estate fund of HCI Capital AG. “Das ARCOTEL Camino is in an excellent location and is without a doubt one of the most beloved hotels in Stuttgart. That is seen not only in the regular Internet reviews that are very positive but also in the occupancy rates”, says Douglas Waibel, Senior Investment Manager (hotel team) at PATRIZIA.
Situated in the immediate vicinity of the main train station, the hotel offers over 168 soundproofed rooms, a conference and seminar area as well as a gym and a spa. The hotel also offers 34 parking spaces underground and 10 parking spaces above ground. The parties have agreed not to disclose the price. In the hotel sector, PATRIZIA thus manages real estate assets worth around €300 million.
ARCOTEL Camino on Heilbronner Strasse in Stuttgart is an integral part of the “Postdörfle” historic preservation district, built between 1869 and 1872 by architect Georg Morlok as Stuttgart’s first working-class neighbourhood. In 2007, the property was converted into a hotel under lead architect Christof Mäkler of Frankfurt, with the two separate buildings being joined by an addition set back from the street.
The addition is a narrow structure, taller than the original buildings on each side and recessed against their facades. Between the two existing buildings rises a new section connecting the two wings and housing both lobby and foyer. ARCOTEL Camino was opened in January 2008 and is being leased to the ARCOTEL Group for another 18 years.
Source: PATRIZIA
