Ad hoc report 10/01/2008

CA Immo group sells 4 star business hotel in Frankfurt

  • Union Investment acquires Mövenpick Hotel Frankfurt City for 63 Mio. € (incl. incidental costs)
  • Further implementation steps regarding the announced combined disposal- and investment program under final negotiations

Union Investment Real Estate AG acquires the Mövenpick Hotel Frankfurt City from CA Immo Group for a total consideration of € 63mn. The transaction will have a positive impact on the 2008 results of the CA Immo Group. For the next 12 months CA Immo Group expects further sales and project partnerships in Germany with a volume of more than € 200mn, of which the majority is expected to be finalized until the end of the current year.

Wednesday, 01. October 2008 07:05