AURELIUS sells hotel property in Hanover
- Second successful sale transaction within a few weeks
- The buyer will continue to lease the property to GHOTEL on a long-term basis
- Substantial profit contribution for AURELIUS
Munich, November 6, 2015 – The AURELIUS Group (ISIN DE000A0JK2A8) is selling its biggest hotel property in Hanover to a private investor with an affinity for hotels. The decisive factor in choosing this particular buyer was the assurance that the new owner will enter into a new, 20-year lease with GHOTEL. Therefore, GHOTEL has secured this location in Hanover on a long-term basis. The transaction is intended to be closed by the end of the year.
AURELIUS had purchased the property in February 2011, together with four other hotel properties, three of which in Munich and one in Braunschweig, from Deutsche Annington in a special situation. Already in August 2015, AURELIUS sold one of the properties in Munich at a significant, double-digit profit to a local real estate investor. The location in Braunschweig was sold already in 2012. Like the hotel property sold in Munich in August 2015, the property in Hanover was also sold for an amount significantly higher than its book value, and thus the transaction will generate a significant profit contribution for AURELIUS.
“We are pleased today to announce the second successful sale transaction within a few weeks. As is common practice at AURELIUS, we will distribute half the profit earned on this transaction to our shareholders in the form of an additional participation dividend,” said Dr. Dirk Markus, CEO of AURELIUS. “We expect brisk transaction activity also in the coming months and we can reaffirm our expectation of another record year for AURELIUS.”