UK-based Principal Real Estate Europe, on behalf of its Principal Hotel Real Estate Fund II (Hotelfund II), has acquired, following a forward purchase agreement, the Ona Hotel Terra in Barcelona from a local real estate developer for €40.5 million (€266,400 per room). The 152-room hotel opened earlier this month and is operated by Spanish group Ona Hotels under a long-term lease agreement.
Spanish hotel REIT Atom Hoteles Socimi is acquiring the Hotel Collection Avenue Louise in the Belgian capital Brussels for €8.4 million (€105,000 per room). The 80-room four-star hotel will be refurbished and repositioned post-acquisition. The purchaser has signed a new long-term lease agreement with Dutch operator Hotel Collection International.
Commerzbank’s real estate arm Commerz Real, through its Luxembourg-based company CR Fund Management S.à r.l., has acquired a vacant office building near Madrid Barajas International Airport to convert into a two-star Zleep Hotel. The 280-room budget hotel is due for completion in 2021 and will be managed by a subsidiary of Steigenberger Hotels AG, part of the Deutsche Hospitality group, which itself was recently acquired by Huazhu Hotel Group of China. HVS was pleased to have advised Huazhu on its Deutsche Hospitality acquisition.
Germany’s largest public service group, Bayerische Versorgungskammer (BVK), is forward-purchasing the Hampton by Hilton Kiel, Germany, from a joint venture between Hamburg-based investor and developer Revitalis Real Estate AG and Cologne-based multi-family office Dereco. The future 208-room upper midscale hotel is located some 100 kilometres north of Hamburg and will be managed by Gorgeous Smiling Hotels GmbH’s subsidiary GS Star GmbH.
Swedish real estate investment firm Balder Fastighets AB is purchasing the 227-room Scandic Hotel Linköping City in Linköping, approximately 200 kilometres southwest of Stockholm, from Norwegian real estate investor and manager City Finansiering. Balder owns some 50 hotel properties across the Nordics, mainly in Sweden, as well as in Germany.
The Inn Collection Group has acquired the historic 45-room Black Swan Hotel in Helmsley in the county of York, bringing the purchaser’s portfolio to 13 properties. The 45-room Inn is set to continue trading before undergoing a major redevelopment. This transaction marks the group’s second investment this month following its acquisition of The Pheasant in Bassenthwaite Lake, Cumbria, two weeks ago.
Dortmund-based real estate investment specialist Dr. Peters Group is acquiring the new-built GHOTEL Hotel & Living Bochum in Bochum, Germany, for a mixed-risk public fund. The 162-room three-star hotel, situated 31 kilometres west of Dortmund, was completed in August 2019. The GHOTEL Group, currently operating 21 hotels in Germany and Austria, has signed a 20-year lease agreement.
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