Union Investment Acquires Hotel Portfolio From benchmark. REAL Estate

benchmark | October 5, 2018

Four development projects comprising 675 rooms in total / Acquisition for immofonds 1 and a special hotel fund 5 October 2018 Union Investment has secured a portfolio of four hotel development projects from benchmark. REAL Estate Development (benchmark.) via a forward purchase agreement. Three hotels to be built in Dresden, Oberhausen, and Eschborn will be transferred to the holdings of open-ended real estate fund immofonds 1. The fund is marketed exclusively in Austria. An additional planned hotel property in Freiburg im Breisgau is being acquired for special fund UII Hotel Nr. 1. The parties agreed not to disclose the purchase price. ...