Atream acquires resort shut to Munich from HIH Invest

Atream, a French funding manager, has obtained a resort positioned in Aschheim, shut to Munich, from HIH Invest True Estate GmbH, on behalf of a closed-end fund.
The resort, with a total rental converse of three,912 sq. meters, of which 3,642 sq. meters are feeble for resort capabilities, is leased to AccorInvest Germany and operated below the ibis price range belief.
In-built 2007, the resort offers 150 rooms and parking amenities, along with 33 exterior areas and 51 underground parking spots. The mixed-employ building also involves a 270-sq.-meter industrial home and has been in part renovated since 2019.
The transaction modified into knowledgeable by BNP Paribas True Estate, with prison advice supplied by Norton Rose Fulbright. The sale trace has no longer been disclosed.
“Old years were very no longer easy for the hospitality sector. Substitute resplendent hotels, namely, had to address a dramatic decline in guests at some stage in the coronavirus pandemic. Thanks to ongoing modernization efforts, the resort has been centered to meet the preferences of resort guests and has obtained a solid market space. At the side of the well-known tenant, this has significantly elevated the property’s attractiveness and contributed to the winning sale. That is proof of the success of our strategy to intently align funding and asset administration.” – Daniel Asmus, Head of Transaction Management Space of enterprise Germany at HIH Invest True Estate.