Netherlands-based hotelier LMEY Investments has completed the acquisition of a 50% stake in Westfort Capital for an undisclosed price from Thomas Cook Group Tour Operations (which is currently in liquidation), resulting in 100% ownership of the hotel investment platform by LMEY. Westford Capital specializes in the repositioning of underperforming resort properties around the Mediterranean. Having acquired 8 new properties as part of the deal, LMEY’s portfolio now includes 23 assets primarily in Europe, with over 5,500 rooms.
Investment manager BNP Paribas REIM has acquired the Hotel BOLD Munchen Giesing from the German-based Morten-Gruppe for an undisclosed price. The 142-room budget hotel in the centre of Munich will be the first property added to “BNP Paribas MacStone,” which is the company’s new open-ended real estate fund exclusively for private customers. The operator has agreed to a new 20-year lease with extension as part of the sale.
UK-based Vine Hotels has acquired the Charlecote Pheasant hotel in Warwickshire, UK from American equity fund Lone Star for an undisclosed amount. Prior to the purchase, the 70-room countryside hotel was in administration. Lone Star acquired the property in 2014 as part of a £1 billion acquisition of MREF assets, which included 46 Shearings hotels and 21 Moorfield hotels across the UK.
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