Commerz Real buys Brisbane Mercure and Ibis Hotels for €52m from CDL

Commerz Real has made its first investments for the new CR Institutional Hotel Fund. The German fund manager has acquired the 194-room Brisbane Mercure Hotel and 218-room Brisbane Ibis Hotel for a combined A$77 million (c.€52 million) from Singapore CDL Hospitality Trusts. The sale price represents an exit yield of…