Invesco has closed two real estate deals on the same day amounting to around €1 billion and is now set to acquire an office complex in Frankfurt and three hotels in Lisbon.
This is the first time Invesco has entered the Portuguese hotel market and claims it is the largest ever hotel real estate transaction to ever take place in the country.
For a total of €313 million, the firm has acquired three hotels across the Portugese capital – the Tivoli Avenida Liberdade Lisboa, Tivoli Oriente Lisboa and Avani Avenida Liberdade Lisbon. The hotels were bought from Minor International.
On the same day, Invesco also agreed to acquire an 80,500 sqm office complex building in the centre of Frankfurt for €620 million from Axa Investment Managers Real Assets.
The transaction is expected to close at the end of this year. Predominantly office space, but also including hospitality, retail, and entertainment use, the Die Welle building currently has more than 50 “blue-chip” tenants from 15 different industries.
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