Clifford Chance has advised Investa Immobiliengruppe, Munich, on the sale of a new property in the centre of Düsseldorf to a current private placement of real estate company Dereco, Cologne. A six-floor Holiday Inn Express Hotel is due to be built on the site, with completion expected by mid-2015. The hotel will be run by the Foremost Group, Berlin, which has a 20-year lease on the property. Foremost specialises in the development and management of branded hotels throughout Germany and Europe.

Investa develops new and existing properties in Germany. Since being established in 1972, it has realised properties with a total investment volume of more than four billion Euros.

The Clifford Chance team comprised partner Cornelia Thaler and counsel Dr. Kristina Jaeger (both Real Estate, Frankfurt).

Cornelia Thaler and Dr. Kristina Jaeger have previously advised Investa on a number of transactions, including the sale of "Schwabinger Carré" in Munich, on the purchase of the "Uferstadt Fürth" business park in Nuremberg and the sale of the Giesing health centre as well as the "iCU" office building in Munich.