BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has acquired, on behalf of one of its funds, a hotel new-build in the Hamburg-Altona district. The property encompasses more than 10,000 sqm and features 220 modern hotel rooms and 44 apartments operated by hotel brands Moxy Hotel and Residence Inn by Marriott.
Parent company of the two brands is Marriott International, the world’s largest hotel group with 30 different brands and 7,000 hotels in 131 countries. The property, which was sold by the Benchmark Group, a property developer active throughout Germany, is under long-term lease.
The asset, which was completed in 2021, is located at Kühnehöfe 8-10 in Hamburg’s Altona-Nord district. Access to public transportation from the location is provided by several suburban train lines and bus lines in the vicinity. Federal highway B431, one of Hamburg’s most important main roads, provides convenient access to the property by car. The well-known district is situated close to the River Elbe and boasts a number of lovely parks and green spaces. Guests don’t have far to go for shopping, coffee, dining or just taking a walk. The Port of Hamburg, the city’s fish market, theaters, and other main tourist attractions and businesses are also located close to the hotel. The Moxy Hotel and Residence Inn in Altona offer comfort for long stays and short.
Source: https://irei.com/news/bnp-paribas-reim-fund-buys-hotel-new-build-hamburg-altona-germany/, on 9 November 2022