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Munich, 08 May, 2015 – JLL has advised on the sale of the 297-room Le Méridien Parkhotel Frankfurt in the city of Frankfurt on behalf of Kildare Partners to the German real estate investor Art Invest Real Estate. The purchase price remains confidential; however, the transaction represents the largest hotel transaction recorded in Frankfurt in 2015.
The prestigious hotel, which opened in 1905 and was extended in 1970, is located in vicinity to the city’s main train station and the banks of the river Main. The banking district, trade fair and Frankfurt airport are also easily accessible.
“This transaction offered investors the attractive opportunity to acquire a well-established hotel in one of Europe’s financial epicentres and Germany’s leading hotel market for business travellers. Ever since its opening, the hotel has been an integral component of the upscale hotel landscape in Frankfurt and it continues to be such today. We experienced a highly competitive bidding environment with strong interest from cross-border capital and German investors alike and a very diverse buyer audience.” said Sheima Salloum, Senior Vice President, JLL Hotels & Hospitality Group.
“The sale of the Le Méridien Parkhotel Frankfurt emphasises Frankfurt’s role as preferred investment market in Germany, having recorded 10 single transactions since 2014 with a total volume of over € 400 million. This again proves investors’ confidence in the German hotel real estate market as well as the continuously high demand from a diversity of investors in this asset class.” adds Christoph Härle, CEO EMEA, JLL Hotels & Hospitality Group.
Notes to Editors:
The hotel sale includes 297 guest rooms and suites, a restaurant, bar, conference and meeting facilities, a wellness area and parking.
The attached image shows the exterior of Le Méridien Parkhotel, Frankfurt.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316.0 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.
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