German investor Caleus and Singapore-listed GIC have partnered up to buy the Hotel de Rome in Berlin, Germany.
Financial details of the off-market deal were not disclosed. The vendor in the transaction was Commerz Real.
Comprising 18,300 m2 and situated in the German capital’s central district, Hotel De Rome is a five-star property with 108 rooms and 37 suites, a 20-metre pool and a spa facility. It was built in 1989 and underwent a full renovation in 2008.
Welcoming the acquisition, Patrick Reich, managing partner of Caleus, said: ‘We are pleased that we have been able to continue our successful investment strategy with this prestigious property in the heart of the nation’s capital after already acquiring two other properties on Wallstrasse and Chausseestrasse in off-market transactions this year.'
Henning Koch, global head of transactions at seller, Commerz Real, said: ‘We have utilised the ongoing high demand for properties in prime locations to attain a very good result for our investors.’
Caleus was advised by Jones Lang Lasalle and by Pöllath und Partners on legal and tax matters.
Commerz Real was advised on legal issues by Taylor Wessing.