CBRE advises on sale of Motel One Berlin am Spittelmarkt

London, 25 September 2017 – CBRE Hotels has advised Commerz Real on the sale of Motel One Berlin am Spittelmarkt to M&G Investments for €43m.

The hotel comprises of 303 bedrooms and is in the centre of Berlin, within walking distance of many of the city’s leisure and busin ess attractions, and benefitting from the city’s tourists and business travellers.

The hotel will be operated by Motel One GmbH until 2035.

Armin Bruckmeier, Head of Investment Properties Germany & CEE, CBRE Hotels, commented: 
“This sale represents the continued interest we are seeing in the German hotel market. The Motel One is located in the heart of the city centre and the fact that it has an 18-year lease with a high profile branded operator makes this sale an incredibly popular investment opportunity”. 
   
The Property was purpose built in 2010 and features 303 rooms. It is situated in the centre of Berlin, Germany’s capital, within walking distance from numerous demand generators. Total global capital chasing the asset of close to €500 million. 

Unconditional exchange occurred only 70 days after instruction. CBRE Hotels’ structured sales process created a competitive tension among bidders, driving pricing and the speed of the transaction. 

This transaction is a sign of the strength of interest that CBRE Hotels is seeing from institutional investors for leased hotel products with strong covenant. CBRE Hotels’ access to global buyers, track record as well as on-the-ground personnel allowed us to meet the vendor’s tight timeline, with less than three months between instruction and exchange. 
 
Berlin recorded hotel investment transaction volumes of € 696 million in 2016, representing 14% of the German hotel transaction volumes.

About CBRE Group, Inc.
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 (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.