British private equity firm BC Partners Real Estate, together with French asset manager Hova Hospitality, has entered an agreement to acquire 30 Ibis hotels in Germany from French owner-operator AccorInvest. The portfolio was brought to market last year for €130 million (€56,300 per room). The hotels, acquired with the benefit of vacant possession, are predominantly situated in A and B cities across western Germany, with a combined total of 2,308 rooms. All hotels will be leased on a long-term, CPI-linked basis to the French hotel group B&B Hotels, which is actively pursuing expansion. Société Générale acted as the external financier for this purchase. With this latest acquisition, the BC Partners European Real Estate I fund, launched in 2021 with €900 million in capital, has now invested 75% of its total funds.
Eternam acquires the Moulin Plaza in Paris
French investment firm Eternam has acquired the three-star, 50-room Hotel Moulin Plaza in Paris, France, for approximately €17.5 million (€350,000 per room). The hotel is located in the 9th district of the French capital, just a two-minute walk from the Moulin Rouge. Eternam plans to renovate the rooms and common areas to upgrade the hotel to four-stars. To fund the acquisition, Eternam has organised a club deal that brings together approximately 30 private and institutional investors. The French hotel management company Honotel is set to operate the property. Honotel specialises in midscale hotels across France, with a portfolio of over 40 properties.
Meridia acquires Reserva Alecrim in Portugal
Spanish alternative investment fund manager Meridia has acquired the 58-bungalow Reserva Alecrim in Alentejo, Portugal. The 14-hectare resort is located in southern Portugal, approximately 140 kilometres south of Lisbon. This acquisition marks Meridia’s second investment in Portugal. Meridia plans to add additional bungalows, with the resort also set to undergo a soft rebranding to Wecamp by 2025, which would make it the 14th property under the sustainable glamping Wecamp platform.
IDF Tourisme & Territoires acquires the Sonder Yvette in Paris
French real estate investment firm IDF Tourisme & Territoires, along with a group of investors, has acquired the three-star, 61-room Sonder Yvette in Paris, France. The property is located in a southern suburb of Paris, approximately five kilometres away from the Eiffel Tower. American hotel group Sonder will continue to operate the property, one of five it manages in Paris. Last month, Sonder signed a long-term strategic licensing agreement with Marriott International, through which over 9,000 Sonder units will join Marriott’s portfolio by the end of 2024, with full integration into Marriott’s distribution channels and Bonvoy program expected by 2025.
Irish Neville Park Hotel Group has entered an agreement to acquire the three-star, 108-room Maldron Hotel Wexford in Wexford, Ireland, from Dalata Group, Ireland’s largest hotel operator. The property is located in Wexford, a town two hours to the north of Dublin. Dalata is also in discussions about the sale of the Clayton Whites Hotel, located in the heart of the town. Neville Park is owned by Wexford native Colm Neville, who already owns The Crown Quarter in Wexford. Dalata’s portfolio of owned and managed hotels includes over 50 hotels across Ireland and the UK under the Maldron and Clayton brands.
Correction
Last week, we published an article on the acquisition of the Adagio Access in Freiburg. Union Investment were not the owners of the asset, as their planned acquisition did not end up closing back in 2018.
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