Real Estate investor BNP Paribas REIM has acquired a portfolio of three modern IBIS hotels in the region of Munich, with a total of 410 bedrooms, on behalf of funds investors Opus Real and OPCI Diversipierre respectively. A new 20 year lease agreement has been signed with a longstanding IBIS francisee existing since 1996 for the three assets.

International law firm Clifford Chance has advised BNP Paribas REIM on the acquisition, establishment of the purchase vehicle and the financing of this transaction.

The three IBIS properties built between 2012 and 2016 are positioned in the 2-star segment and benefit from convenient access via local and national railway, motorway and networks. IBIS Munich City-East is located in the Berg am Laim suburb of Munich, attracting both tourists and business travelers, especially during international real estate fair Expo Real. IBIS Munich City-South is located in the Obergiesing-Fasangarten suburb of Munich with many companies branches, IBIS Munich Airport is located in close vicinity to Munich international airport.

The Clifford Chance team advising BNP Paribas REIM comprised partner Gerold Jaeger (Düsseldorf) and counsel Martin Barlösius (Munich) as well as associates Walid Hamid Saden (Frankfurt), Alexander Shemyakin (Düsseldorf), (all Real Estate); partner Christian Vogel, associates Maria Luisa Köhler and Ribana Piontek (all Corporate/M&A, Düsseldorf); partner Tobias Schulten and senior associate Necla Ilhan (both Finance, Frankfurt) as well as partner Josef Brinkhaus (Frankfurt), counsel Dominik Thomer, associate Philipp Weiten and transaction lawyer Philipp Schulze (all Düsseldorf) (all Tax). From the Paris office of Clifford Chance, partner Alexandre Lagarrigue and Associate Omar El Arjoun advised on Tax issues.

The original press release can be found here on Clifford Chance’s website.