Commerz Real has acquired a hotel project in Frankfurt for its open-ended real estate fund hausInvest. The seller is the Frankfurt-based project development and construction company Adolf Lupp GmbH + Co KG. The construction project is to be supported by Gold.Stein real estate M+E GmbH & Co. KG. The property is located on Mayfarthstrasse in the city’s East End district. The six-story, 179-room hotel is set for completion 2020. Novum Hotel Group signed a 20-year lease agreement on the property with an option to extend the lease up to 10 years.
