Hotel news and transactions from around the European region: Schroders acquires 50% stake in the Sofitel Legend The Grand in Amsterdam, CapMan acquires Solna mixed-use site in Sweden and more...
CPPIB and Hamilton acquire the W Rome from King Street and Omnam
The 162-room W Rome hotel in Italy has been acquired by the Canada Pension Plan Investment Board (CPPIB) and Hamilton Pyramid Europe joint venture for €172 million (€106,000 per room), from King Street Capital Management and Omnam Investment Group. The acquisition marks the first one for the joint venture, which was established to acquire hotels in main European gateway cities. CPPIB has committed €475 million to the JV. The hotel opened in April 2022 following a complete renovation.
Schroders acquires 50% stake in the Sofitel Legend The Grand in Amsterdam
Schroders Capital has acquired a 50% stake in the 177-room Sofitel Legend The Grand in Amsterdam, the Netherlands, for around €150 million (€847,000 per room). Over €40 million is set to be invested to refurbish and upgrade the asset. Dating back to 1411, the property was initially a convent and then city hall before being converted into a hotel in 1992. Schroders have acquired AccorInvest’s interest, with Oman’s Yahya Group owning the remaining 50% of the hotel.
Union acquires the Autograph Collection Lake Tegernsee in Germany
The 125-room Marriott Bonvoy Autograph Collection hotel on Lake Tegernsee in Germany has been acquired by Union Investment, on behalf of a special fund, from a subsidiary of the developer Planquadr.at, a partner company to Salzburg-based SORAVIA. The price was undisclosed. Four Peaks Hospitality GmbH, part of SORAVIA Group, has signed a 20-year lease for the property and the hotel will operate under the name Caro & Selig, Tegernsee, Autograph Collection. Work is currently being completed in the hotel’s interior and is set to be finished by the end of this year, with the hotel expected to open in March 2023.
CapMan acquires Solna mixed-use site in Sweden from Slottsparken
CapMan Real Estate’s Nordic Real Estate III (CMNRE III) Fund and partner Atell AB have acquired a hotel and office site located at Solna Kasernen 1 at the Royal National City Park in Solna, Sweden, just outside of Stockholm. The seller is a private company within the Slottsparken Group. Standing at approximately 26,000 sqm, the site includes an office building and two buildings that form a 200-room hotel with spa, conference and restaurant areas. CapMan is set to refurbish the property, with a focus on minimising energy consumptions and bring in newly established investment and management company Atell to run the day-to-day operations of the property.
Theoreim acquires the B&B in Evian, France
SC Pythagore, a fund managed by French real estate asset management company Theoreim, has acquired the three-star 86-room B&B in Evian, France, for €7 million (€81,000 per room). The town of Evian-les-Bains is located on the south side of Lake Geneva, in France’s Haute-Savoie alpine region. The seller is a private developer and the hotel will continue to be operated by B&B for a remaining term of 11 years. Theoreim was represented in the acquisition by Hova Hospitality.
Arbireo Capital acquires the B&B hotel in Cuxhaven, Germany
Investment manager Arbireo Capital has acquired the 101-room B&B hotel in Cuxhaven, Germany on behalf of a family office from Projektgemeinschaft Köhler & Brandt GmbH, for an undisclosed sum. The hotel is leased to operator B&B for 20 years. This acquisition is the second from Arbireo within a few weeks, with the firm acquiring a property leased to B&B in Ravensburg, Germany, for a family office in mid-September.
Roseate acquires The Dunstane Houses in Edinburgh from a private owner
Five-star historic luxury hotel The Dunstane Houses in Edinburgh has been sold by a private owner-operator to the Roseate Hotels Group off a £7.5 million guide price. The final sale amount is undisclosed. The hotel’s 35-rooms and suites are set across two villas and the property includes a bar, restaurant, lounge, garden conservatory and private gardens. Roseate has hotel properties in New Delhi and Rishikesh in India, and in the UK in London, Reading and Bath.
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