Europe Hotel Transactions Bulletin - Week Ending 18 October 2019
French asset manager La Française REM, on behalf of Société Civile de Placement Immobilier Epargne Foncière, is forward-funding a four-star 114-room Adagio Aparthotel in Toulouse, south-west of France. The property, which is part of a larger mixed-use development, is being sold by local developer Kaufman & Broad, and is expected to open in the first quarter of 2022. The complex will also comprise fitness facilities, co-working areas as well as 20 parking spaces.
The 162-room Days Hotel by Wyndham London-Waterloo, which went into administration in March this year, is being sold to UK-based hotel investor Palm Holdings, on behalf of the administrators Smith & Williamson. The buyer will temporarily continue to operate the hotel under the Days Hotel brand through its subsidiary, Waterloo Hub Hotel Ltd, whilst considering various repositioning options. The acquisition of Palm Holdings' first London hotel joins its existing portfolio of hotels in Scotland and Canada.
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