Israeli hospitality group Fattal Hotel has sold the Leonardo Royal hotel in Munich, Germany, to Invesco Real Estate for €157 mln.
Opened in 2011, the four-star hotel provides 424 rooms on 17,500 m2 of gross space, nine conference rooms and a conference hall.
Fattal Hotel will continue to operate the asset for an annual amount of €7.2 mln.
Invesco Real Estate was advised on the deal by global law firm Paul Hastings.
Three separate jumbo loans - from banks, a new non-bank lender and the debt capital markets - show finance markets are in good health.
