Union Investment Acquires Hyatt Place Frankfurt Airport Opening in 2018 from Feuring Group

Union Investment | March 21, 2016

March 21, 2016 - A Hyatt Place hotel, located at the Frankfurt Airport in Germany, is scheduled to open in the first quarter of 2018. Union Investment acquired the approximately 32,350 square foot hotel site from seller, developer and lessee Europahotel Baufeld 11.3 GmbH & Co KG., which is part of the Feuring Group, via a forward purchase arrangement. The transaction was formally agreed on March 14, 2016. The completed hotel will be purchased by Union Investment for its open-ended retail real estate fund Unilmmo: Global. The Feuring Group will then operate the hotel under a lease for the next 30 years under the Hyatt Place brand. Th...