Union Investment Acquire 4-Star Meliã Dusseldorf

London - 05 December 2013 – CBRE Hotels EMEA are pleased to announce the sale of the Meliã Dusseldorf hotel, purchased by Union Investment for €35 million. The vendor, a fund managed by Pramerica Real Estate Investors, was advised by CBRE Hotels.

With a remaining lease term of 16 years the hotel was an attractive investment opportunity for Union Investment’s open-ended real estate fund Unilmmo:Deutschland. The purchase brings the fund’s European hotel portfolio up to 32 hotels with an asset value totalling approximately €1.8 billion, placing them amongst the Germany property fund managers with the highest level of investment in the hotel sector.

Meliã Hotels International, established in 1956, is the largest hotel operator in Spain and currently has more than 350 hotels in 35 countries across four continents. The individual hotel brands include Gran Meliá, Meliã, ME, Innside, Tryp by Wyndham, Sol and Paradisus.

Opened in 2009, the 4-star Meliã Dusseldorf benefits from a very central location in the immediate vicinity of the old town, the main Königsallee shopping area and the Rhine. It features 201 bedrooms, 2 restaurants, extensive conference facilities, a gym and Yhi Wellness Centre comprising 2 saunas, steam bath, ice fountain, sensations shower and relaxation area. With some 14,000 square meters of gross floor space, the hotel is aimed equally at business travellers and leisure customers.