DEKA BUYS LE MÉRIDIEN MUNICH

Deka Immobilien has purchased the Le Méridien Munich in Germany from Kildare Partners and a Luxembourg-based administrator for €158 million. The sale of the 381-room hotel, which opened in 2002 in the centre of the Bavarian capital, is subject to an existing long-term lease with Starman Hotels. The transaction reportedly represents the largest single asset hotel sale to take place in Germany in the last 15 years.

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