European Hotel Transaction Bulletin – Week Ending July 22, 2022
Sareb sells 23 assets for tourist use in Spain for 235 million euros
Sareb, the Spanish government’s “bad bank” created in 2012 by the Spanish state and the European Commission, obtained 235 million euros from the sale of 23 commercial assets for tourist use, located in the provinces of Murcia, Malaga, Valencia, Almeria and Madrid. The properties include tourist apartments, aparthotels and hotels totaling 1,729 rooms. These assets were put up for sale due to a need for specialized hotel and resort management capabilities beyond the scope of Sareb’s strategic business activities.
Juniper Hotels Holdings Limited, 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 capital. Juniper plans to reposition the property as an upmarket boutique hotel, increasing the number of rooms to 171. A £34m financing package has been secured from specialist lender Leumi UK, a subsidiary of the larger major bank in Israel, Leumi International.
Real IS acquires Hampton by Hilton and Premier Inn hotels in Stuttgart
German real estate investor Real IS has acquired two hotels in the German city of Stuttgart under the Hampton by Hilton and Premier Inn brands, from construction group Matthäus Schmid. The price was not disclosed. The transaction, which involved a total of 300 rooms, was carried out as part of a club deal for two unnamed pension plans. The two adjacent properties were completed in 2021 and are located in the same development in the central Europaviertel district.
Ampega acquires Hotel “me and all” in Düsseldorf from Concepta JV BNS
Düsseldorf-based property developer and asset manager Concepta and Hamburg-based BNS Real Estate Capital have sold the me and all hotel in Düsseldorf Oberkassel, Germany to Ampega Investment, part of the Talanx Group (the third German insurance group), for an undisclosed price. . The 249-room hotel, newly opened in April this year, is located in Oberkassel in the business district of Dusseldorf-Seestern. An underground car park with 76 spaces, a coworking space, a hair salon and a 400 m² Mediterranean restaurant operated by Mezzomar are located in the hotel building.
Diös acquires the Clarion Collection Hotel Grand in Sundsvall, Sweden from Moströms
Swedish property investor Diös Fastigheter AB has acquired a mixed-use property that includes the 122-room Clarion Collection Hotel Grand and accommodation in the center of Sundsvall, a Swedish coastal town on the Gulf of Bothnia, from Moströms Fastighet AB, for one grossed 177 million Swedish crowns, or about 17 million euros. There is a rental agreement for the three-star hotel with Nordic Choice Hotels, one of Scandinavia’s largest hotel companies, with 15 years remaining from September 2022, providing annual rental income of SEK 11.6 million. , or around €1.1 million per year, reflecting a return of around 6.6%
.Splendid acquires Holiday Inn London Brentford Lock in London from Brightbay
Private UK-based Splendid Hospitality Group has acquired Holiday Inn London Brentford Lock in London, from London-based REIT Brightbay Real Estate Partners, for an undisclosed price. Splendid Hospitality expands UK-based hotel portfolio to over 20 assets with latest acquisition. Located halfway between Heathrow Airport and central London, the four-star hotel has 134 rooms, six meeting rooms for 500 delegates, a restaurant and a bar. Brightbay Real Estate Partners, which was formed following the acquisition of RDI REIT PLC by controlled subsidiaries of Starwood Capital Group in 2021, owns 17 hotel assets in the UK across brands under the flags of IHG, Hilton and Travelodge.
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