DUSSELDORF, GERMANY-Benson Elliot Capital Management has refinanced the Deutsch-Japanisches Center here in a $96 million transaction. The company has owned a controlling interest in the mixed-use facility since 2007, in a partnership with Cologne, Germany-based Event Holding, on behalf of Benson Elliot Real Estate Partners II.
The property is located in the Japanese-influenced City Center, and includes the 386-room Nikko Hotel, the Nikko Convention Center, 81,000 square feet of office and retail, and a 560-car parking garage. Rates at the hotel run from $135 per night.
The financing was undertaken by Eurohypo Aktiengesellschaft, two years ahead of its scheduled maturity. Peter Kleinhutten, a team leader at Eurohypo, said this transaction represents one of the largest hotel financings to be completed in Europe this year. “This also illustrates the liquidity for strongly-performing assets,” he said in a statement.
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