DLA Piper advises Cone Capital on long term lease for new Wyndham Garden Hotel Munich Messe
DLA Piper has advised Cone Capital AG, a Swiss based developer and investor, on the establishment of a 25 plus 5 years lease agreement and refurbishment project with the leading Latvian hotel operator Mogotel Hotel Group. The 4*star hotel located in proximity of Munich’s trade fair will be the first hotel franchised under the Wyndham Garden brand in the city.
The new Wyndham Garden Munich Messe hotel has 267 rooms, most of them equipped with kitchenettes designed for the comfort of leisure and business travelers. In addition, the hotel has a restaurant with terrace, lounge area, bar and meeting room facilities. The hotel has been upgraded to match Wyndham Garden brand guidelines and has just opened its doors in February 2022.
The project is being implemented by Mogotel Hotel Group subsidiary “Mogotel Development Holding” with the financial support of the Latvian state-owned development finance institution ALTUM.
Cone Capital is a Swiss developer for opportunistic projects in the D-A-CH region. Determined and solution-oriented, Cone Capital focuses on early project phases or existing properties with high development potential. As a flexible, owner-managed project developer, Cone Capital operates in the asset classes of residential, office, hotel, FMZ and retail.
The DLA Piper team was led by partner Dr Martin Haller and senior associate Markus Kotowski (both Real Estate, Munich) and also comprised counsel Eike Neugebauer (Finance & Projects, Frankfurt).