Located at 25 Willy-Brandt-Strasse, the property comprises a mix of studio rooms and one & two-bed apartments, a bar, restaurant and fitness facilities including a sauna, pool and gym.
The 202-key property was purchased for around €67.5 million, equating to about €334,000 per key. hausInvest purchased the asset in May 2015 from Hochtief for around €51.3 million. Adina's lease runs until 2045, following a 10-year extension during the pandemic.
PGIM’s hotel portfolio now comprises 25 assets across the UK, China, Austria, Germany, Paris and New York.