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GSK advises Deka Immobilien Investment GmbH on the acquisition of the Luxury Hotel Sofitel Bayerpost at Munich’s Central Station

GSK Stockmann + Kollegen advised Deka Immobilien Investment GmbH (Deka) on the acquisition of the Sofitel Bayernpost located at Munich’s Central Station. The hotel will become part of the open-ended real estate fund Deka ImmobilienEuropa. The parties agreed not to disclose the purchase price.

Today’s five-star-hotel is located at Bayerstraße and was constructed from 1896 until 1900. For a long time it served as the Royal Bavarian General Post Office. In 2001 the property was acquired by a closed-end real estate fund managed by the E&P Real Estate GmbH & Co. KG and converted into a first class hotel with an investment of EUR 140 Mio. More recently the rooms and the lobby have been extensively renovated in 2012/2013.

Today, the listed hotel building accommodates 396 rooms, including 57 suites on 30,646 sqm. Two restaurants, a bar, 20 conference rooms and a fitness and wellness area spread over 380 sqm and an underground parking garage with 70 parking slots also belongs to the hotel. The hotel is operated by Accor Hospitality Germany GmbH under the Sofitel-Label. The lease agreement has a fixed term of 18 years. With this transaction, Deka ImmobilienEuropa increases the hotel portfolio within the fund to 6.1%.

GSK Stockmann + Kollegen comprehensively advised Deka on the acquisition of the hotel property by way of an asset deal. The advice included financial and tax law aspects. Again, GSK’s Hotel & Leisure Teams expertise was appreciated.

GSK has repeatedly advised Deka on the acquisition of large hotels, most recently on the acquisition of the Le Méridien in Munich.

Advisor to Deka:
GSK Stockmann + Kollegen: Dr. Rainer Werum (Lead Real Estate), Dr. Bernhard Laas (Lead Hospitality), Dr. Petra Eckl (Tax), Agnes Bosse (Finance); Associates: Kirill Schitomirski, Andreas Grammling (both Real Estate), Dominik Berka (Tax)

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Rainer Werum