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Commerz Real, Deutsche Hospitality partner on €250M hotel real estate fund

Commerz Real AG launched a €250 million European hotel real estate fund with German luxury hotel company Deutsche Hospitality.

Steigenberger Hotels, a Deutsche Hospitality subsidiary, will inject €12 million into Commerz Real European Hotel Fund, with a further €92 million expected from other investors.

Commerz Real said the fund will invest in up to eight three- to five-star hotels, targetting an annual internal rate of return of at least 5.5%.