Warimpex closes sale of andel's hotel in Berlin

In line with the announcement published in late July, Warimpex and UBM Development have sold andel's hotel in Berlin to Union Investment Real Estate. The transaction value stands at €105 million. Andel’s is one of four conference hotels in Berlin. The conference facilities are spread over 3,800 sqm of space, consisting of a ballroom, 21 combinable conference rooms and 15 meeting suites with flexible design options. Union Investment’s hotel portfolio encompasses 25 brands and currently comprises more than 40 properties with total assets valued at more than €2.3 billion.