Recent deal ⸱ 25-05-2018

BNP Paribas acquires Room Mate-Hotel Rotterdam

May 25, 2018 – BNP Paribas REIM has become the first owner of a hotel recently completed in Rotterdam that will be opening its doors in summer 2018 under the name Room Mate Bruno. The property has a gross floor area of just under 17,700 square meters with 217 rooms. A unique feature of the hotel is an integrated indoor market that independently attracts tourists to the location. The hotel is run by the international hotel chain Room Mate Hotels, founded and chaired by Kike Sarasola. The company, whose philosophy is that the best way of traveling is visiting friends is based on the concept of affordable luxury. Lexence has advised the seller with the negotiations with the tenant and the negotiations with the buyer.

Expertise

Real estate notarial services

Wouter

Helder

Marieke

van Schie

Stephan

Westera

The hotel enjoys a central location in Rotterdam in the up-and-coming Kop van Zuid submarket. The location features direct access to public transport and has gained a reputation as a hotel destination over the past few years thanks to several new-build developments. Rotterdam has an aspiring hotel market with tourism numbers and accommodation rates rising and relatively few new-build hotel developments currently in the pipeline.

This transaction continues a series of hotel purchases that BNP Paribas REIM has made in recent years. In 2015 BNP Paribas REIM Germany acquired a hotel in the central Leipzig location “am Museumswinkel” within the scope of a forward deal and two IBIS Hotels were opened in August 2016. An additional purchase was made in spring 2016 with the Radisson Blu Hotel Hanover in direct vicinity of the trade fair grounds, followed by the GHOTEL in Essen in early 2017.

The property was purchased by BNP Paribas REIM Germany for an institutional investor’s special real estate fund. The property was developed and realized by a VolkerWessels company.