French real estate investment firm Corum Assset Management has acquired the new Ibis Styles hotel in Rotterdam from Dutch developer and investor Foruminvest.
According to the Dutch Land Registry, the deal volume is in excess of €50 mln.
With 250 keys, the Ibis Styles is located next to the main entrance of the Ahoy Convention Center and is fully leased to HR Group for a minimum of 25 years.
Aerjen Koeneman, managing director at Foruminvest NL said: 'This turnkey development is a perfect example of our hotel strategy; vibrant location, attractive brand and experienced tenant. This greatly appeals to investors in the hotel sector. This first sale to Corum marks the beginning of a successful collaboration.'
Foruminvest said it plans to ramp up its hotel development business and would soon unveil further schemes.
Corum is also expanding in the hospitality sector. The Rotterdam deal comes a month after the investor secured the Cavern Quarter mixed-use site in Liverpool, on behalf of Corum XL SCPI.
The development includes the 123-room Ibis Styles Liverpool Centre Dale Street, a retail unit leased to Tesco, and a 281-space carpark occupied by Dutch operator Q-Park. The Liverpool deal, struck for around €18.4 mln, represented a yield of 7.4% according to Corum.
Renovated in 2013, the Liverpool property complex comprises more than 12,000 m2 of space.