Foncière desRégions exercised options to acquire five hotel assets inGermany, for a total investment of €125 million.
The French company said the acquisition of the 900-roomportfolio is expected to close in 2017. The seller currently operates theassets and will lease them under a variable lease for 20 years.
The properties are located in Düsseldorf, Frankfurt,Nuremberg, Oberhausen and Stuttgart. The NH Nuremberg hotel will be upgradedand repositioned as an NH Collection hotel following a refurbishment program.
FdR previously acquired the NH Amsterdam Centre hotel in theNetherlands from Spain-based NH Hotels in a sale and leaseback deal in 2014,the company said.