Hotel news and transactions from around the European region: Sareb sells 23 tourist-use assets in Spain, Splendid acquires Holiday Inn London Brentford Lock in London and more...
Sareb sells 23 tourist-use assets in Spain for €235 million
Sareb, the Spanish government’s “bad bank” created in 2012 by the Spanish State and the European Commission, has secured €235 million from the sale of 23 commercial assets for tourist use, located in the provinces of Murcia, Malaga, Valencia, Almería and Madrid. The properties include tourist apartments, aparthotels, and hotels totalling 1,729 rooms. These assets were put up for sale due to the need for specialist hotel and resort management capacity lying beyond the scope of Sareb’s strategic business operations.
Juniper Hotels to acquire leasehold interest in Holiday Inn London Oxford Circus
Juniper Hotels Holdings Limited, which is part-owned by global hotel owner and operator Westmont Hospitality Group, is set to acquire the leasehold interest in the Holiday Inn London Oxford Circus in the UK’s capital city. Juniper plans to reposition the property as an upscale boutique hotel, increasing the number of rooms to 171 in the process. A financing package of £34 million has been secured from specialist lender Leumi UK, a subsidiary of Israel’s largest bank, Leumi International.
Real I.S. acquires Hampton by Hilton and Premier Inn hotels in Stuttgart
German real estate investor Real I.S. has acquired two hotels in the German city of Stuttgart under the Hampton by Hilton and Premier Inn brands, from the Matthäus Schmid construction group. The price was not disclosed. The transaction, which included a total of 300 rooms, was conducted within the frame of a club deal for two unnamed pension schemes. The two adjacent properties were completed in 2021 and are situated within the same development in the centrally located Europaviertel neighbourhood.
Ampega acquires “me and all” hotel in Dusseldorf from Concepta JV BNS
Dusseldorf-based property developer and asset manager Concepta and Hamburg-based BNS Real Estate Capital have sold the me and all hotel in Dusseldorf Oberkassel, Germany, to Ampega Investment, part of Talanx Group (Germany’s third largest insurance group), for an undisclosed price. The 249-room hotel, newly opened in April of this year, is situated in Oberkassel in the Dusseldorf-Seestern business district. A 76-car underground parking, a co-working space, a barber shop and a 400 sqm Mezzomar-operated Mediterranean restaurant are located in the hotel building.
Diös acquires Clarion Collection Hotel Grand in Sundsvall, Sweden, from Moströms
Sweden-based real estate investor Diös Fastigheter AB has acquired a mixed-use property that includes the 122-room Clarion Collection Hotel Grand and housing units in central Sundsvall, a Swedish coastal city in the Gulf of Bothnia, from Moströms Fastighet AB, for a reported SEK 177 million, equating to approximately €17 million. There is a lease agreement in place for the three-star hotel with Nordic Choice Hotels, one of Scandinavia’s largest hotel companies, with 15 years remaining from September 2022, providing an annual rental income of SEK 11.6 million, approximately €1.1 million per annum, reflecting a yield of approximately 6.6%.
Splendid acquires Holiday Inn London Brentford Lock in London from Brightbay
Privately-owned, UK-based Splendid Hospitality Group has acquired the Holiday Inn London Brentford Lock in London, from London-based REIT Brightbay Real Estate Partners, for an undisclosed price. Splendid Hospitality extends its UK-based hotel portfolio to over 20 assets with the latest acquisition. Situated halfway between Heathrow airport and central London, the four-star hotel features 134-rooms, six meeting rooms for 500 delegates, a restaurant and bar. Brightbay Real Estate Partners, which was formed following the acquisition of RDI REIT P.L.C. by controlled affiliates of Starwood Capital Group in 2021, hold 17 hotel assets in the UK across brands under IHG, Hilton and Travelodge flags.
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