BNP PARIBAS REAL ESTATE INVESTMENT MANAGEMENT GERMANY GmbH ACQUIRED RADISSON BLU HOTEL IN HANNOVER
BNP Paribas Real Estate Investment Management Germany GmbH invests in a broad range of asset classes, providing attractive risk-adjusted returns from assets in core, growing markets.
In 2016, the company purchased the 22,400 sq m, 250-room Radisson Blu hotel in Hannover on behalf of a special funds client. The deal allowed our client to buy a prime property which taps into a strong local market in a fast-growing sector.
As Reinhard Mattern, chief executive of BNP Paribas Real Estate Investment Management Germany GmbH, explains: “In recent years hotels developed into an asset class that can be ranked alongside sectors such as offices and retail. Also in the current market environment, hotels often offer an attractive risk/return profile. The decisive factor for a hotel investment is, above all, the quality of the operator. With the Radisson Blu, Hannover we have found an excellent name at an attractive location.” In that sense, the lease contract has recently been extended by 20 years.
Hannover is one of the key markets for conferences, conventions, events and trade fairs in Germany and Europe, and is host to many leading international fairs, such as Hannover Messe and CeBIT.
The Radisson Blu, Hannover is located in the south east of Hannover, directly by the Hannover trade fair site on the B6 main road, known as the "trade fair expressway". Via a pedestrian crossing, the hotel provides direct access to the fairgrounds.
In addition, the so-called “MICE guest” segment, Meetings, Incentives, Conferences and Events, is becoming an increasingly important demand factor for the Radisson Blu, Hannover, which has 15 meeting rooms.