Capital France Hotel, a hotel investment vehicle managed by Schroder Real Estate Hotels, acquires two assets in Antwerp, Belgium from KKR

Capital France Hotel, a hotel investment vehicle managed by Schroder Real Estate Hotels, has completed the acquisition of two new properties: the Radisson Blu Astrid Hotel and the Park Inn by Radisson Hotel, both located in front of the main train station of Antwerp, Belgium.

Conveniently located in the Diamond Quarter of Antwerp, the main city of the Flanders region, the hotels offer extensive facilities that appeal to both corporate and leisure guests.

Since KKR’s investment in June 2015, the two assets have developed into leading hotels in Antwerp, benefiting from the city’s status as a business hub and leisure destination, as well as new infrastructure developed by the city which has generated more demand from the corporate market. The Radisson Blu Astrid Hotel has recently benefitted from an €11 million, three-year refurbishment programme to upgrade both the bedrooms and common areas, as well as the transformation of the previous aquarium into a major chocolate museum.

Capital France Hotel already owns several hotels in the main strategic destinations of Europe, including The Pullman Bercy Paris, the Westin Palace Milan, the Westin Regina Venice, the Radisson Paris Boulogne and the Marriott Monaco Cap d’Ail. Capital France Hotel is confident it will build on the recent renovation and go on improving its market share as tourism and corporate travel also grow in Antwerp.

The two hotels are operated by Rezidor under the Radisson and Park Inn brands and will remain managed by Schroder Real Estate Hotels.

Frédéric de Brem, Head of Schroder Real Estate Hotels said:

“After four years of a strong relationship with KKR where we executed a major refurbishment programme and a repositioning of the Radisson, we are very happy to see these two assets joining the collection of strategic properties owned in Europe by Capital France Hotel. It underlines the quality of the asset management done by our team and allows us to remain as an asset manager, contributing to the on-going repositioning of the Radisson Blu Astrid.”  

Guillaume Cassou, Member and Head of European Real Estate at KKR said:

“We are pleased to have worked alongside Schroders to execute our business plan successfully and develop these assets into leading hotels in Antwerp, making the most of positive trends in the business and leisure sectors. This continues our strategy of investing in leading assets in cities and markets around Europe which are set to benefit from structural growth trends.”

As part of this off-market transaction, the seller has been assisted by Loyens & Loeff, PWC and Eastdil Secured.

The buyers have been advised by Depardieu, Lidekerke and Mazars.

KKR’s investment was made through its Real Estate Partners Europe fund.

For further information, please contact:

Nicole Carey      Tel: +44 (0)20 7658 4466/ nicole.carey@schroders.com

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