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CDL Hospitality Trusts buys Munich hotel for 100 million euros

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Published Tue, Jun 27, 2017 · 09:50 PM

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    Singapore

    CDL Hospitality Trusts (CDLHT) announced on Tuesday its acquisition of Pullman Hotel Munich and its office and retail components for about 100 million euros (S$153.8 million). The deal will be fully funded by debt financing and is accretive with a net property income yield of 5.6 per cent for FY 2016.

    This is CDLHT's first acquisition in continental Europe. The hotel, which has a four-star rating, is near major business districts.

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