Cologne-based Colonia Real Estate has sold its hotel portfolio of three German assets to two unnamed foreign investors for EUR 24 mln. Colonia said the price reflected the current fair market value of the properties. The cost basis for the hotels, which were acquired in 2004, was about EUR 22 mln.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
