ECE sold the 25hours Hotel it is developing in Düsseldorf’s Le Quartier Central quarter to Patrizia Immobilien AG. The price of the deal was not disclosed. Construction on the 18-story, 198-room hotel is scheduled to begin in mid-2016, with the opening set for spring 2018. It will be operated by the 25hours Hotel Company on a long-term lease. Patrizia acquired the property for a special real estate fund. JLL Hotels & Hospitality advised ECE on the sale, while White & Case provided legal support. The developer acquired the plot from Aurelis Real Estate in September 2015.
