IRE buys Munich hotel from Israeli owner for €157m

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.


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