BVK and GBI AG have acquired their first hotel property, the Lindner Hotel Am Michal in Hamburg. The hotel contains 259 modern rooms, and large event and conference spaces. BVK and GBI have teamed up to invest and manage hotel properties in the German speaking countries via a new fund set up by Frankfurt-based Universal Investment with an initial investment of €500m. The strategy of the fund is to build a high-value, long-term portfolio by targeting hotels with 2- to 4-star ratings. “The Lindner Hotel in Hamburg is the ideal choice because it ticks all these boxes,” said Christoph Geirhos, Head of Real Estate Acquisition and Sales at BVK.“As we search for more properties, we are also looking at ones which are still in the pipeline or at other stages of development.”
