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German fund manager buys Amsterdam hotel for €260M

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German fund manager buys Amsterdam hotel for €260M

German fund manager Deka Immobilien snapped up the W Amsterdam hotel for €260 million from Cyprus-based Fentonir Trading & Investments, PropertyEU reported Oct. 10.

The 185-room hotel, behind Amsterdam's Royal Palace, is operated by Starwood.

The asset comprises two buildings, which Fentonir redeveloped in 2014, and previously housed the Dutch post authority and Kasbank.

The hotel was refinanced for €135 million in September 2016 by German real estate banks pbb Deutsche Pfandbriefbank and Deutsche Hypo.