January 5, 2017 Comments Off on German Investors Buy WTC Courtyard Marriott Views: 277 Downtown New York, New York News

German Investors Buy WTC Courtyard Marriott

The Courtyard Marriott just opened its 317 new rooms at the World Trade Center in Lower Manhattan. But developers Hidrock Properties and Robert Finvarb Companies have already sold the property, closing the deal Dec. 22.

Union Investment’s open-ended real estate fund UniImmo Global, based in Hamburg, Germany, paid more than $200 million for the new, 30-story hotel. Boston-based Pyramid Hotel Group will operate the 30-story hotel on Union Investment’s behalf. The developers had reportedly paid $28 million for the site in 2012. The developers retained a 2,600-square foot retail space at the building.

Read the statement from advisors DLA Piper

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