Hengeler Mueller advises Frasers Hospitality Asset Management Pte. Ltd. on market entry in Germany
12. May 2016
Frasers Hospitality Real Estate Investment Trust (“FH-REIT”), a Singapore-listed REIT with an investment focus in the hospitality industry and which is part of the stapled group known as Frasers Hospitality Trust, has expanded its footprint to Germany with the execution of a sale and purchase agreement to acquire the Maritim hotel in Dresden. The acquisition is expected to be completed in Q2 2016. The property is a 328-room hotel located in the historical city centre of Dresden, the capital of the eastern German state of Saxony. It is a heritage-listed building converted from a preserved grain warehouse to a hotel in 2006. The acquisition is backed by a long term lease agreement with the Maritim hotel group, one of Germany’s largest hotel chains.
Hengeler Mueller advised Frasers Hospitality Asset Management Pte. Ltd., the manager of FH-REIT, on the German law aspects of the acquisition and the lease back transaction. The Hengeler Mueller team was led by Daniel Kress (Real Estate, London) and included partner Martin Klein (Tax, Frankfurt) as well as associates Maximilian Clostermeyer (Real Estate, London), Steffen Hörner (Tax) and Lars Voigt (Real Estate) (both Frankfurt).