TwentyTwo Real Estate acquired Center Parcs Allgau in Germany, one of the largest and most recent centre parks in Europe. The acquisition was made by TwentyTwo Real Estate Fund III and its affiliates from Lagune International, an investment vehicle managed by Batipart, and includes 750 of the site's 1,000 cottages as well as the main sports and leisure facilities.
Strategically located in South-West Germany, close to the three major urban areas of Munich, Stuttgart and Zurich, this new-generation park, which opened in 2018, spans over 184ha. The site is leased and managed by the Pierre & Vacances Center Parcs group.
This investment is also fully in line with TwentyTwo Real Estate's ESG policy, focused on building sustainable value. Indeed, Center Parcs Allgau has an ambitious ESG plan, which has been in place since its construction, to meet the growing demand for sustainable sites with a positive impact. As a result, it has obtained multiple certifications, including Gold DGNB (for sustainable property developments) and Green Key (a leading certification standard in the tourism industry). The site is also ISO 14001 and ISO 50001 certified.
Daniel Rigny, founder and CEO of TwentyTwo Real Estate, said: "This investment underlines our strong interest in leisure and destination hospitality, in particular in positive-impact tourism assets with a leading position in their local market. We are delighted to have acquired the major part of this property, which is Germany's leading branded hotel by revenue. This acquisition is also the largest single-hotel transaction in Europe so far this year.”
Louis Bayon, managing director of real estate at Batipart, added: "Lagune International has supported the Pierre & Vacances Center Parcs group, a long-term partner of the Batipart group, in its development in Germany since 2017, in particular with the construction of its landmark asset in Europe, Center Parcs Allgäu. Batipart wishes to crystallise its value creation today with this sale."
