German Estate Group will acquire the Villa Kennedy luxury hotel in Frankfurt from Commerz Real’s hausInvest open-end real estate fund. Financing was provided by Deutsche Pfandbriefbank for the deal, though the price of the asset was not revealed. The five star hotel was completed in 2006 and offers 19,250 sqm of lettable area including 720 sqm of office space, and 126 parking spots. The property is considered a core asset on Germany’s luxury hotel market. The 163-room hotel is operated by Rocco Forte.
