Deutsche Finance International and CELLS Group have purchased the 32,000sq m Sheraton Berlin Grand Hotel Esplanade from Archer Hotel Capital and Event Hotels.
Deutsche Finance International (DFI) believes that the acquisition presents an opportunity to unlock embedded value through a series of asset management initiatives that fully leverage the hotel’s prime location, utilising DFI’s expertise in operational and customer-centric real estate coupled with the development skills and local expertise of CELLS Group. Current plans include a programme of works to improve and reposition the property, creating a prime new mixed-use destination comprising offices and new food and beverage outlets, alongside an upgraded hotel. A key focus of the project will be to improve the asset’s ESG credentials, targeting the highest sustainability standards.
The 394-key, five-star hotel is situated in a highly attractive location near Großer Tiergarten in Berlin-Mitte, close to the Embassy Quarter and opposite the Bauhaus Archive. The district is home to many large international and domestic companies, as well as important political institutions and a significant number of restaurants, bars, shops and other amenities. The hotel also benefits from strong public transport links and is located in close proximity to a number of Berlin’s main tourist attractions including the famous Kurfürstendamm shopping avenue and the Tiergarten park.
