Extend AM and Algonquin have acquired, in an offmarket process, the 143-room AC by Marriott hotel located on Nice’s famous “Promenade des Anglais”.
Bpifrance and BNP Paribas Développement have announced a 23m€ investment in Algonquin Management Partners – a leading European hotel operator, investor and asset manager – in order to support the growth of its activities in France and in the rest of the world. This investment, led by Bpifrance, enables the two co-investors to become minority shareholders and join Jean-Philippe Chomette, the group’s founder, who remains the majority shareholder through Algonquin SA, and the management team led by Frédéric de Brem, CEO of Algonquin Management Partners, and Stéphane Obadia, Managing Director in charge of development.
Investment in the Media Harbour district highlights the increasingly dynamic economy of Düsseldorf and strengthens the common strategy of Aviva France and Algonquin and to develop together in buying major hotels in European gateway cities.
The fund « PRIMOTEL EUROPE » has the objective of investing 240 million Euros over 3 years, in French and European hotels in the 3 to 5-star category. « PRIMOTEL EUROPE » has made its first acquisition in December, of two hotels in Brussels: the Renaissance Brussels and the Marriott Executive Apartments Brussels, both situated close to the European Parliament.
A joint venture between private equity real estate fund managers, UK-based Benson Elliot and US-based Walton Street Capital, L.L.C. (“Walton Street”) in partnership with Algonquin SA (the “JV”), has acquired a pan-European hotel portfolio comprising of eight prime hotels in seven major cities across five countries, the Prime Europe Hotels (the “Portfolio”) for approximately €420 million. The Portfolio was purchased out of Host Hotels & Resorts Inc.’s European Joint Venture(the “Vendor”).
Investment underlines the city's potential as a growing business and leisure hub. London, June 11th, 2015 - KKR, a leading global investment firm, today announced the purchase of the Radisson Blu Astrid Hotel and the Park Inn Hotel in Antwerp, Belgium, in a joint venture with Algonquin, one of Europe's leading independent hotel groups.
Algonquin is pleased to announce the acquisition, along with a Group of Investors, of the 4-star, 209-room Novotel Liverpool Centre hotel for c. £13.5 million. The hotel has been acquired from Joint Administrators David Oprey, Richard Toone and Adrian Hyde of Chantrey Vellacott DKF.
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