Hotel operator Scandic and Danish real estate developer Schaumann Properties have formed a partnership to develop a EUR 110 mln hotel with 572 rooms on Potsdamer Platz in Berlin. The hotel marks the first serious step in Scandic’s new international growth strategy, Scandic said in a statement. The hotel is expected to open in February 2010.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
