Deka Immobilien has acquired a four-star business hotel in Frankfurt for its open-ended fund WestInvest TargetSelect. The seller is a joint venture of German property developer Fom Estate GmbH and Quinlan Private. The hotel was recently developed by Fom Estate and is a part of a larger complex which includes 7,286 m[sup]2[/sup] of office space and residential accomodation. The parties agreed not to disclose the purchase price. WestInvest was advised by Jones Lang LaSalle Hotels.
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