INVESCO BUYS INTERCITY PORTFOLIO ON BEHALF OF UK CLIENT

Invesco Real Estate (IRE) has purchased a portfolio of four InterCityHotel properties in Germany on behalf of one of its clients, a new UK institutional mandate, for approximately €80 million. IRE and Steigenberger Hotels have signed 30-year hybrid leases for the hotels, which are the 140-room InterCityHotel Darmstadt, the 174-room InterCityHotel Rostock, the 194-room InterCityHotel Mainz and the 360-room InterCityHotel Frankfurt Airport. The deal also includes an agreement to refurbish the hotels in Frankfurt and Rostock.

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