Internos Spezialfondsgesellschaft, on behalf of the Euro Property 1 fund, has sold the Steigenberger Hotel Remarque in Osnabrück, Germany to a private investor.
The purchase price has not been disclosed.
The 4-star hotel was built in 1998 and has 156 rooms. It is operated as a Steigenberger Hotel by the Arcona hotel group under a lease agreement. It was acquired by the fund in 2005.
The Euro Property 1 fund is managed by Internos Spezialfondsgesellschaft mbH. The fund invests in a balanced portfolio with regional and sectoral diversification which comprises office, logistics, retail (specialist store centres) and hotel properties. Following the sale of the Steigenberger Hotel, the portfolio now does not hold any more hotels.
The Euro Property 1 fund is currently invested in nine properties located across five European countries and worth around EUR 218 million in total. Other locations in Germany are Duisburg, Mainz and Hanover.