Angelo Gordon and EQ announce acquisition of five hotels in Paris

Affiliates of Angelo Gordon and EQ Group announced the completion of the acquisition of five hotels in Paris, from French listed company Gecina, for €181 million (€222,000 per room, on average). These hotels, all operated under Intercontinental Hotels Group (IHG) and Marriott International brands, are located across the French capital.

The hotels comprising 814 rooms are Holiday Inn Paris Notre Dame, Holiday Inn Paris St. Germain des Près, Holiday Inn Paris Versailles Bougival, Courtyard by Marriott Boulogne and Courtyard by Marriott Paris Roissy Charles de Gaulle. EQ Hotels Ltd. will manage four of the assets directly under franchise, while the Courtyard by Marriott Paris Roissy Charles de Gaulle will be managed by Marriott and asset managed by EQ Hotels Ltd.

HVS London carried out the valuation for the bank in this transaction.

Pandox purchases Maritim Hotel Nuremberg in Germany

Swedish publicly listed hotel fund Pandox AB has entered into an agreement to acquire the 316-room Maritim Hotel Nuremberg, Germany, for a reported €61 million (€196,100 per room). The transaction volume represents a going-in yield of around 5.4% net of transfer tax. Pandox is evaluating various operating options as the hotel is operated under an existing short-term fixed lease with Maritim Hotels. The purchaser also intends to undertake a comprehensive €18-million refurbishment, with an emphasis on rooms, meeting spaces, F&B and public areas.

Millenium Hotels acquires the Meliá Bilbao in Spain

Spanish publicly traded hotel fund Millenium Hotel Real Estate Socimi has acquired the Meliá Bilbao in northern Spain, from Gestamp, which is controlled by the Riberas family. The 211-room hotel transacted for a reported €49.2 million (€203,300 per room) and features three restaurants, a wellness centre, and several meeting rooms. This transaction marks the second hotel investment by Millenium within one week, after purchasing the partly completed W Hotel Madrid last week for €82 million.

GIC and Caleus Capital acquire the Hotel de Rome, Berlin from Commerz Real

Singapore's sovereign wealth fund, GIC, together with German investor Caleus Capital Partners, are acquiring the luxury Hotel de Rome in Berlin, Germany, from Commerzbank's real estate division, Commerz Real. Manged by Rocco Forte, the hotel features 108 guest rooms and 37 suites, a ballroom as well as wellness facilities including a 20-metre pool. Commerz Real acquired the hotel from Rocco Forte in 2007, for its real estate fund Hausinvest.

Tryp Valencia Feria hotel acquired by Port Hotels

Spanish hotel owner and operator Port Hotels is acquiring the Tryp Valencia Feria in Valencia, Spain, which was operated by the current owners under a franchise agreement with Tryp by Wyndham. The four-star hotel comprises a total of 127 rooms and is located directly opposite the city's fair and congress venue. Port Hotels assumes the hotel's operation as of December, which will lead to the property being renamed as the Port Feria Valencia hotel.

Otto family buys 25% stake in Ruby Hotels

German ECE-Gruppe, owned and managed by the Otto family since its inception in 1965, has acquired a 25% stake in Munich's Ruby Hotels as part of a capital raise. ECE is one of Europe's leading hotel developers in German-speaking countries and one of the market leaders in developing, managing and letting shopping centres. Ruby Hotels' current portfolio comprises seven hotels spread across Dusseldorf, Hamburg, Munich, and Vienna.

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