BNP Paribas REIM has acquired a recently completed hotel in Rotterdam from developer, VolkerWessels. According to the Dutch land registry, the asset was bought for €51 mln.
The property, which will open its doors over the summer, is known as Room Mate Bruno and provides217 rooms over 17,700 m2 of gross space.
The centrally-located hotel will be run by international hotel chain Room Mate Hotels, founded and chaired by Kike Sarasola.
BNP Paribas REIM made the deal on behalf of an institutional investor. It is the latest acquisition by the French investment manager into the hotel asset class, following the purchase of the Radisson Blu Hotel Hanover in 2016 and of the Ghotel in Essen in early 2017.