Europe Hotel Transactions Bulletin - Week Ending 12 April 2019
Jersey-based Invel Real Estate Management Limited, alongside Greek real estate investment company NBG Pangaea REIC and another undisclosed major institutional investor, have acquired a majority stake in Aphrodite Hills Resort Limited and Aphrodite Springs Public Limited, for a reported €50 million. Covering 580 acres of land, an 18-hole championship golf course and over 750 luxury villas and apartments in combination with other facilities, Aphrodite Hills is one of Cyprus' most exclusive resorts. The resort also includes the 290-room Aphrodite Hills Hotel by Atlantica. Aphrodite Springs comprises some 150 hectares of land adjacent to Aphrodite Hills Resort and will be developed into a golf course as well as residential and mixed-use properties. The investment partners aim to continue the expansion of the resort and deliver additional housing on the resort.
The 27-room Dublin Citi Hotel and the adjoining Trinity Bar, located on Dame Street in the heart of the Temple Bar district, was acquired by Singaporean businessman Dr Stanley Quek and his business partner Peng Loh for a reported €12 million (€444,400 per room). The buyers have previously bought other Irish hotels such as the Trinity Lodge on Frederick Street, Dublin, for €7 million in 2016 as well as the Sheen Falls hotel in Kenmare for €17 million in 2018.
A fund managed by Swiss Life, one of the largest life insurance companies in Europe, has acquired the Exe Liberdade hotel in Lisbon from private investment vehicle D. Loulé 112/126 SA. The 163-room hotel is located just off the Marquês de Pombal square, one of the most central and important plazas in the city. The hotel is reported to be operated through a lease with Barcelona-based hotel operator Hotusa.
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