Munich-based fund manager Real IS is preparing a new property special fund Bayernfonds Deutschland 25, which will invest in a hotel in Hamburg.
Completed in 2010, the property is located in the Hamburg St Georg district and leased to hotel operator Motel One until 2030.
The fund volume is €37m, of which €19m is equity capital. The life span is two years and is planned to return 6.2% annually. Distribution is expected to start in March.
Andreas Heibrock, member the Real IS board, said: “Hamburg is among the most attractive tourism destinations in Germany. With Motel One we have one of the largest German hotel chains active on the budget hotel market as tenant for our new fund property.
“The central location of the property as well as the long-term rent agreement make the product perfect for our private clients.”
