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Two Intercity Hotels sold

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Synchroon and J.P. van Eesteren, both subsidiaries of TBI Holdings, are selling both the Intercity Hotel in 5TRACKS Breda and the Intercity Hotel in Octagon Leiden, to the Commerz Real European Hotel Fund.

Intercity Hotel opens two new branches in prominent locations in the Netherlands. A hotel with 174 rooms will be built in 5TRACKS Breda and a hotel with 115 rooms in Octagon Leiden. Both hotels are expected to open their doors in 2023, after which they will become part of the Commerz Real European Hotel Fund. The Intercity Hotels are operated by STAG Hotels Netherlands, a subsidiary of Steigenberger Hotels A.G.

Construction of both 5TRACKS Breda and Octagon Leiden is expected to start in the summer of 2021.

Synchroon & J.P. van Eesteren were assisted in this transaction by Colliers Hotels (commercial) and BarentsKrans (legal). Commerz Real was advised in the transaction by Eversheds Sutherland (legal affairs), Crowe Horwarth (tax) and Traject (engineering).