Pramerica Real Estate Investors and Paris Inn Group have formed a new joint venture company, Capital Inn, to invest in hotels in Paris, France.
The joint venture acquired its two first hotels for more than €30m; the hotels, one three-star and one four-star, offer a total of 150 rooms.
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The joint venture will target hotels in central and western Paris, and has a total investment capacity of €60m, according to property-magazine.eu.
