• Invesco fund fully invested with Hanover deal

Invesco Real Estate’s first hotel fund is now fully invested following the purchase of the Novotel Hanover from Ebertz and Partner for an undisclosed fee.

The German hotel, which takes the fund to 17 sites, has a long term lease in place with Accor until 2026 and takes the fund’s total investments to c.Eu700m across nine European countries. The hotel was the eighth that IRE’s team purchased in 2010, spending c.Eu300m in the past 12 months, with the group planning to launch a second hotel fund in early 2011.

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