CERN Pension Rehabs Hotel Property in Ferney-Voltaire
Posted on 07/03/2019
Image Credit: M3 Groupe and CERN.
The CERN Pension Fund is an investor in institutional real estate. CERN has owned a hotel in Ferney-Voltaire, France for a number of years. M3 Hotel Ferney Voltaire lies on the border of France and Switzerland. The tenant of the hotel exited the property 15 months ago and CERN partnered with M3 Groupe to get the property up and running. M3 Groupe ended up taking on the lease of the hotel property and started renovations. CERN kicked in 4.6 million EUR of capital expenditures, while M3 invested 2 million EUR for specific hotel refurbishments.
By May 2019, the hotel has become fully operational.
Property Location: 34 rue de Geneve, 01210 Ferney-Voltaire, France.