• Invesco buys Munich Novotel

Invesco Real Estate has completed its acquisition of the Novotel City Centre hotel in Munich for Eu39m in an off-market deal, with financing provided by Bayern.

The deal was part of a sale and leaseback of five hotels from Accor. It is the fifth hotel Invesco has bought this year for its pan-European hotel fund, taking it to 14, with a further two hotels from expected to be finalised later this year.

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