Among
the noteworthy deals of the past week was Pandox’s acquisition of the Pullman
Cologne Hotel in Germany from Art-Invest Real Estate for €66 million.
COLOGNE,
Germany — Stockholm-based Pandox has acquired the 275-key Pullman Cologne Hotel
in Cologne, Germany, from Cologne-based Art-Invest Real Estate on behalf of one
of its institutional hotel funds for €66 million.
Pandox has
signed an agreement to buy the hotel with AccorInvest as a tenant. The initial
yield for the Pullman Cologne Hotel is estimated at approximately 6.5%. That
yield could reportedly increase following planned renovations.
The
transaction is expected to close in the second quarter of 2025. The acquisition
takes Pandox’s portfolio in Cologne to four hotels.
To download
our list of deals from the past week in Excel format, click here.