EQ Group and Eternam have acquired the Courtyard by Marriott Paris Arcueil Hotel
With more than 5,000 keys across Europe, EQ Group strengthens its position in Paris where the group already has six hotels. Namid Mangalji, Senior Managing Director and Co-Founder of EQ Group says, “This acquisition reinforces our conviction in the strong underlying fundamentals of the Paris hospitality market which has experienced tremendous growth in 2022.
London - With more than 5,000 keys across Europe, EQ Group strengthens its position in Paris where the group already has six hotels. Namid Mangalji, Senior Managing Director and Co-Founder of EQ Group says, “This acquisition reinforces our conviction in the strong underlying fundamentals of the Paris hospitality market which has experienced tremendous growth in 2022. We are excited to partner with Eternam to unlock value through a strategic renovation of the asset." The asset will represent the 5th Marriott branded hotel for EQ, who have a strong working relationship with Marriott International.
Eternam, already an investor on behalf of its clients in more than 80 assets through 25 transactions, continues to build its position in this asset class. Jonathan Donio, Deputy Chief Executive Officer of Eternam, says that “Due to our strategy of partnering with renowned hoteliers who have a thorough understanding of their markets, the partnership with EQ is a natural progression”.
He adds, “The Courtyard Paris Arcueil is our 13th hotel acquisition this year and continues to demonstrate our strong position in this asset class, highlighting our expertise in the structuring of club deals and offering our clients access to a property that is typically reserved for institutional investors.”
Featuring 170 guest rooms, a restaurant and a fitness centre, ideal for leisure and business travellers alike, the Courtyard by Marriott Paris Arcueil hotel, operated by Marriott International, is located conveniently near the Porte de Versailles and 15 minutes by train to central Paris.
Buyer advisors: Gide (DD, acquisition, financing), UGGC (corporate, structuring) and Cazals Manzo (taxation), Deloitte (DD), Seller advisors: DLA Piper (legal) and Mutual Finance (Raed Hanna), Buyer Advisor CBRE Hotels, Lender: BRED.
About Eternam
Eternam is a regulated asset management company which operates on the whole real estate value chain: collective investment funds, club deals, investment advisory and residential investments. Eternam is built around a team of 18 professionals who possess strong expertise in sourcing and structuring. In 11 years, Eternam has closed more than 40 club deals and structured 10 investment funds in the real estate and hospitality sectors. In the last 5 years, Eternam has invested more than €1.5 billion in equity and currently manages €700 million. (www.eternam.fr)
About EQ Group
EQ is a European hospitality group that is curating a portfolio of exceptional hotels in some of Europe’s most sought-after markets. The team is comprised of seasoned hospitality professionals who leverage their extensive experience, passion, and creativity to deliver compelling guest experiences across their properties. Most recently, EQ Group, headquartered in London, opened the award-winning Hôtel Dame des Arts on Paris’s Left Bank, receiving international acclaim from the travel, design, and lifestyle press. (www.eqgrp.com)