Principal Real Estate Europe, a real estate fund, completed its acquisition of Cour des Loges Hotel for €25m ($28m). “The Cour des Loges in Lyon is a unique hotel and a great acquisition for our Hotelfund II and we are thankful to our operating partner Radisson, one of the leading international hotel groups with a very strong covenant, with whom we were able to sign a long-term lease agreement. The location, paired with the quality of the asset and the potential of the planned renovation and repositioning, are exactly the kind of value-add hotel investments PRINCIPAL is looking for. As a result, we are still looking for further hotel investments for Hotelfund II in 2020 and beyond," Jochen Schaefer-Suren, Principal’s Hotel CEO.