ARCHER HOTEL CAPITAL B.V. ANNOUNCES SALE OF THE SHERATON BERLIN, GRAND HOTEL ESPLANADE FOR €116.4m
Archer Hotel Capital B.V. (‘Archer’) today announced the sale of the 394-room Sheraton Berlin Grand Hotel Esplanade to Deutsche Finance International (‘DFI’) and Cells Group for €116.4m. The hotel was owned by Archer in a joint venture with Event Hotels.
“The sale of the hotel represents a rare win-win situation for all parties involved. It was a pleasure working with DFI and CELLS Group throughout this transaction. We believe that they are the right party to bring a new life to this historically important property and we are looking forward to seeing the buyer’s plan come to fruition.” said Dominic Seyrling, Director, Investments for Archer Hotel Capital.
Archer was advised by Freshfields Bruckhaus Deringer, CBRE and Eastdil Secured.