Nikko Hotel Dusseldorf Sold for EUR114mil
FEBRUARY 13, 2007. Benson Elliot Capital Management, the UK based European private equity real estate business has acquired the Deutsch-Japanische Center (Immermannstrasse 41-45) in D"usseldorf.
The mixed-use complex is located in the city centre, close to the main train station and comprises approximately 12,000 sqm of office and retail space as well as the international 5-star Nikko Hotel with 301 rooms. The vendor was an affiliate of certain real estate funds managed by an affiliate of the Blackstone Group International Limited ("Blackstone"), who purchased the hotel in 2002 and subsequently renovated and repositioned the property.
Jones Lang LaSalle Hotels advised Blackstone and exclusively advised the previous owners of the property, Marubeni Corporation, when Blackstone acquired the property five years ago.
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