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