Invesco Nabs 4 German Hotels In $110M Sale-Leaseback Deal

Law360, New York (March 3, 2014, 7:56 PM EST) -- Invesco Real Estate said Monday that it would buy four InterCityHotel properties in Germany for €80 million ($110 million) from Steigenberger Hotels AG.

Invesco signed a lease with Steigenberger for a term of thirty years on the InterCityHotels in Darmstadt, Mainz, Frankfurt Airport and Rostock, it said on Monday. The company said it sees opportunity in the mid- to high-end chain, which it sees as having good brand recognition and a strategic location near major transportation hubs. 

"We are delighted to have secured this portfolio which...
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