BLP Germany has advised Avignon Capital on the investment firm’s acquisition of hotels in Berlin and Frankfurt-am-Main for approximately €48.5m
The hotels – operated by the European hotel chain Meininger – were purchased from an Irish family office.
Constructed in 2010 and 2011, both hotels are located near busy transport hubs. The hotel in Berlin, built next to Washingtonplatz, near Berlin Central Station, hosts 296 rooms on eight floors, across floor space of 7,487sqm. The Frankfurt hotel covers seven floors with 168 rooms and a total floor space of 4,720sqm, and is located in the Gateway Gardens district near the Frankfurt airport.
Meininger operates a total of 16 hotels in Europe’s largest metropolitan areas. The deal was introduced to Avignon by Savills Immobilien Beratungs-GmbH, who have worked with BLP and Avignon on previous acquisitions.
Avignon Capital is a dynamic investment management company specialising in commercial real estate properties. Focusing on the target markets of Great Britain, Germany, Spain and Northern Europe, the company headquartered in London’s West End acts on behalf of private investors, family offices and the Cubic Property Fund. Avignon Capital currently manages assets valued at around €650m.
The BLP team advising on the transaction was led by Frankfurt partner Tina Siebenhaar (Picture) (Real Estate). The firm advised on the acquisition of the hotel and the acquisition financing.
BLP team members include: Stephan Krampe (Partner in Frankfurt, Tax) Adriana zur Nedden (Counsel in Berlin, Finance) Theresia Blath (Associate in Frankfurt, Real Estate) Lorenz Ludewig (Associate in Frankfurt, Real Estate) Michaela Penkalla (Associate in Frankfurt, Real Estate) Friederike Stiller (Associate in Berlin, Finance).
Involved fees earner: Tina Siebenhaar – Berwin Leighton Paisner; Theresia Blath – Berwin Leighton Paisner; Lorenz Ludewig – Berwin Leighton Paisner; Michaela Penkalla – Berwin Leighton Paisner; Stephan Krampe – Berwin Leighton Paisner; Adriana zur Nedden – Berwin Leighton Paisner; Friederike Stiller – Berwin Leighton Paisner;
Law Firms: Berwin Leighton Paisner;
Clients: Avignon Capital Ltd;