Art-Invest Real Estate has acquired the office building located at Dachauer Strasse in Munich from a German based real estate company. Art-Invest bought the investment for the Hotel Manage to Core fund and is planning to redevelop it as a Ruby Hotels & Resorts design hotel. The 174-room hotel would be the first in Germany for this chain run by the entrepreneur Michael Struck and his “Lean Luxury” chain. Art-Invest was advised by Hotour Hotel Consulting and GSK Stockmann & Kollegen during the transaction, while Savills arranged the lease agreement. The company is planning to start reconstruction work soon, with completion scheduled for the first quarter of 2017.
