Extendam, Schroder Real Estate Hotels and another hotel dedicated fund acquire the lifestyle hotel Aloft Brussels Schuman

17/04/2019
Bruseels

Extendam, Schroder Real Estate Hotels (a division of Schroder Real Estate created following the acquisition of Algonquin Management Partners) and another hotel dedicated fund have together acquired the hotel Aloft Brussels Schuman in central Brussels. This is Schroder Real Estate Hotel’s third acquisition in Brussels.

Opened in 2010, the hotel has 150 rooms and is located in the heart of the European district, within easy reach of all key EU institutions including the European Commission. It caters to both leisure and business travellers.

The hotel is currently operated by Marriott and following a proposed refurbishment, the parties are giving consideration to signing a new franchise agreement.

As part of this off market transaction, the vendors (Thornsett and RevCap groups) have been assisted by Racine Attorneys and the EQ Group.

The buyers have been advised by Loyens & Loeff, PWC, Arago and Ideact.

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

“We have been looking at this asset for some time and are pleased to add this property to our portfolio. The hotel has proven to be extremely resilient through the 2016 crisis in Belgium. We are glad to further consolidate our partnership with Marriott under a soon to be signed franchise agreement with the well suited Aloft brand.”  

Bertrand Pulles and Matthieu de Lauzon, Associate Directors of Extendam, said:

"We are pleased to continue our partnership with the Schroder Real Estate Hotels team and to acquire our first hotel in Brussels with an off market opportunity that perfectly meets our requirements: a business hotel with a prime location in a major European city.”

 

For further information, please contact:

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

 

Note to Editor

For trade press only.  To view the latest press releases from Schroders visit: http://ir.schroders.com/media

Follow us
Follow us
Follow us

Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

This marketing material is for professional investors or advisers only. This site is not suitable for retail clients.

Issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU.

For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

Registered No: 1893220 England. Authorised and regulated by the Financial Conduct Authority.

For your security, communications may be recorded or monitored.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.