Berlin – Invesco Real Estate, the global property investment manager, has acquired the Adina Apartment Hotel in Nuremberg from the FREO Group. The former office building in Nuremberg city centre was developed for Australian hotel chain Adina, with the vendor undertaking the refurbishment and conversion work. The property offers a total of 139 studios and apartments with floor areas starting from 30 sq m and a restaurant/bar zone covering around 580 sq m. The purchase price was not disclosed.
A CMS team led by Dr Andreas Otto and Dr Markus Vogt advised Invesco Real Estate on all legal aspects of the transaction. The property firm benefited from the expertise of the CMS Hotels & Leisure group, which has been advising the hotel sector via interdisciplinary teams for more than 15 years. Invesco Real Estate has regularly used the services of CMS experts over a number of years. In 2015, a team from CMS advised Invesco Real Estate on the acquisition of the Radisson Blu Hotel in Cologne, for example.
Invesco Real Estate is part of Invesco Ltd., one of the biggest investment companies in the world, headquartered in Atlanta, Georgia, USA. Invesco Real Estate also operates globally. It currently manages real estate worth USD 71.3 billion (as at 30 June 2016).
CMS Hasche Sigle
Dr Gerd Leutner, Client Relationship Partner
Dr Andreas Otto, Partner, Hotels & Leisure
Dr Markus Vogt, Senior Associate, both Lead
Dr Benjamin Schirmer, Counsel
Franziska Krokutsch, Senior Associate, Hotels & Leisure
Dr Katayun Zierke, Associate, all Real Estate & Public
Alexander Schmitt, Counsel, Banking & Finance