Paris, February 13, 2020 – Atream, an asset management company specialized in real estate investment and long-term capital investment in the tourism industry, has signed the €10.6 million acquisition of the B&B Stuttgart Airport hotel building for the REIT (SCPI) Atream Hotels.
Located in the city of Stuttgart, the capital of Germany’s Baden-Wurttemberg state, the B&B Stuttgart Airport hotel is ideally situated at just 5 km from the Stuttgart International Airport (Germany’s eighth largest airport) and the well-known Stuttgart Messe exhibition center. It enjoys a strategic location within a high-tourism area and a dynamic industrial hub. Stuttgart is also home to the headquarters of several international companies.
The B&B Stuttgart Airport hotel features 101 rooms designed according to B&B’s affordable hotel concept and 27 parking places. With this operation, Atream benefits from a corporate guarantee from B&B Hotels SAS, a respected brand with more than 420 hotels worldwide.
This new acquisition illustrates the REIT (SCPI) Atream Hotels’ investment strategy of acquiring hotel buildings operated on long-term leases by solid brands in big euro-zone cities.
For Pascal Savary, Chairman of Atream : “This new acquisition is in line with the strategy we outlined for the REIT (SCPI) Atream Hotels and consolidates Atream’s position in the European tourism real estate segment.”