CBRE Advises on Operator Selection for New Munich Steigenberger Hotel

Munich, April 2015 – It was today announced that the former head office of Swiss Life Germany in Berliner Straße 85, located in Munich, will be converted into a hotel. It has been confirmed that Swiss Life and Steigenberger have signed a long term lease agreement. Steigenberger is one of the largest hotel groups in Germany and has been looking for a presence for their core brand “Steigenberger” in Munich for many years. Their portfolio includes the prestigious grand hotel Steigenberger Frankfurter Hof in Frankfurt and the Steigenberger Park Hotel on Königsallee, Dusseldorf.

The new hotel will comprise 292 bedrooms and suites, a restaurant, bar and a conference area in excess of 1,200 square meters. The opening of the contemporary styled Steigenberger Hotel Munich is anticipated for 2017. An exact start date for the conversion has not yet been announced. CBRE advised Swiss Life on the operator selection.

Olivia Kaussen, Head of CBRE Hotels, Germany & CEE, said "We are elated that we have found a well-regarded tenant for the conversion of this property into a hotel. Steigenberger Hotel Group has been looking for a prime location in Munich for a very long time, especially as Munich is one of the strongest hotel markets in Europe. This is unquestionably a milestone in the history of Steigenberger.”

 

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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue).  The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com. ​​​​​​​​