Deutsche Finance International and CELLS Group completed the acquisition of Sheraton Berlin Grand Hotel from Archer Hotel Capital and Event Hotels for €116m.

Deutsche Finance International, a pan-European private equity firm, and CELLS Group, a German real estate development, asset management and investment company, completed the acquisition of Sheraton Berlin Grand Hotel, an urban oasis of sleek design and intuitive service, from Archer Hotel Capital, a specialist European hotel investment vehicle, and Event Hotels, a hospitality firm, for €116m. “We are very happy to acquire another property together with DFI in Germany. Located in the very heart of Berlin, this asset presents a number of exciting opportunities to enhance its offering and maximise its potential, while ensuring that hospitality continues to play a major role given the popularity of this well-located hotel. Alongside DFI, we will look to appoint a world class architect to assess our options while, in the meantime, continuing hotel operations based on the current multi-year lease," Dirk Ruppert, CELLS Group Partner and Chief Investment Officer.