UK: World non-public funding agency Starwood Capital Group has acquired a portfolio of 10 properties from Edwardian Inns for an undisclosed sum.
The portfolio represents 2,053 rooms, which Edwardian will proceed to function on a transitional foundation. Edwardian may even retain and proceed to function The Londoner and its two Radisson Assortment lodges: The Could Truthful and The Edwardian Manchester.
The acquisition provides to Starwood’s current portfolio of European resort investments, which following the transaction will comprise 47 lodges of circa 10,000 rooms.
Tim Abram, managing director at Starwood Capital, stated: “We’re delighted to have had the chance to amass this one-of-a-kind portfolio of Central London freehold lodges. London is without doubt one of the world’s most sought-after resort markets, and this portfolio permits to us acquire publicity on a novel scale to London. We plan to speculate vital capex throughout our possession into additional enhancing the lodges.”
Inderneel Singh, CEO of Edwardian Group, stated: “Following the profitable growth of The Londoner and a interval of robust buying and selling throughout the portfolio, the sale represents a chance to refocus the group and place it for the subsequent chapter of progress. Our three landmark properties – The Londoner, The Could Truthful Resort, and The Edwardian Manchester – every mark our continued dedication to put money into and ship distinctive experiences for visitors in high-end, purpose-built, city-centre lodges.”
On behalf of Edwardian Group, JLL supplied actual property advisory companies and Baker McKenzie supplied authorized companies. Paul Hastings (Europe) LLP acted for Starwood Capital on the acquisition.
The lodges featured within the transaction embrace:
• Radisson Blu Edwardian Hampshire Resort
• Radisson Blu Edwardian Mercer Avenue Resort
• Radisson Blu Edwardian Bloomsbury Avenue Resort
• Radisson Blu Edwardian Berkshire Resort
• Radisson Blu Edwardian Kenilworth Resort
• Radisson Blu Edwardian Grafton Resort
• Radisson Blu Edwardian Vanderbilt Resort
• Radisson Blu Edwardian New Windfall Wharf Resort
• Radisson Blu Edwardian Heathrow Resort & Convention Centre
• Radisson Blu Edwardian Sussex Resort
