Commerz Real sells Motel One in Berlin to M&G Real Estate
The Commerz Real open-ended real estate fund hausInvest has sold the Berlin hotel “Motel One am Spittelmarkt” for approx. 43 million euros to the international real estate investor M&G Real Estate. Located at Leipziger Straße 50 in the city centre, the building has been in the portfolio of hausInvest since its completion in 2010. “We are utilising the extremely positive market environment at present so as to attain a very good result for our investors and so as to optimise the fund portfolio,” explains Mario Schüttauf, a fund manager at hausInvest.
“Motel One am Spittelmarkt” has 303 rooms on a total net floor area of 8,660 square metres. The property also has 33 underground car parking spaces. The hotel is leased in full to Motel One GmbH. The residual term of the lease agreement is approx. 18 years.
In the course of the transaction Commerz Real was provided with support by the real estate service provider CBRE.