Brookfield acquires Hotel Princesa Plaza in Madrid from Colony Capital
Canadian investment manager Brookfield AM has acquired the Hotel Princesa Plaza in Madrid from Florida-based private equity firm Colony Capital. The acquisition includes three buildings with a total area of some 60,000 sqm, encompassing the hotel as well as retail (8,064 sqm), office (5,666 sqm) and carparking (14,000 sqm) components. The four-star hotel features 423 guest rooms including 14 suites, three food and beverage outlets and some 1,000 sqm of meeting space. Brookfield has further increased its interest in Spain with this latest acquisition, following on from this year’s acquisition of the 336-room Palladium Costa del Sol in Benalmadena and last year’s €440 million acquisition of the Selenta portfolio. Brookfield intends to transform the Hotel Princesa Plaza and position it within its Selenta group, providing the portfolio with a presence in Spain’s capital.
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Gaw Capital acquires the Hotel Infante Sagres in Porto, Portugal
Hong Kong-based private equity firm Gaw Capital Partners has acquired its second five-star hotel in Porto, Portugal, the Hotel Infante Sagres, from Porto-based holding company The Fladgate Partnership for an undisclosed sum. The 70-room luxury hotel is situated in downtown Porto, surrounded by some of the city’s main tourist attractions and a two-minute walk from Porto’s main avenue, Avenida dos Aliados. Gaw Capital also owns the 105-room InterContinental Porto – Palacio das Cardosas, in Porto’s historic centre, occupying an 18th century palace. The Fladgate Partnership group, a leading player in port wine production, acquired the asset in 2016 and invested a reported €8.5 million in the renovation of the property, reopening it in 2018.
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Raiffeisen Immobilien KAG acquires Bassena Hotel development in Vienna, Austria
Austrian fund manager Raiffeisen Immobilien KAG has acquired the Bassena Hotel Vienna Donaustadt, within the “Vienna Twentytwo” development in the Austrian capital, in a forward funding deal with developers SIGNA Gruppe and ARE Development. The price was not disclosed. The 200-room hotel, currently under construction, will extend over eight floors and will be positioned under Austrian Verkehrsburo Group’s “Bassena” flag as a three-star property. The completion and opening of the hotel is scheduled for summer 2022 along with three other buildings of the development, which include residential, retail and office units.
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Bespoke acquires McMillan Hotels in Scotland
The UK’s largest independent hotel operator, Bespoke Hotels, has further strengthened its portfolio in the UK with the acquisition of the family-owned Scottish hotel group McMillan Hotels. The price was not disclosed. The 164-room portfolio has been operated by the owners, the McMillan family, for over six decades. The three hotels include the four-star, 72-room McMillan Hotel North West Castle in Stanraer; the four-star, 56-room Cally Palace Hotel & Golf Course in Gatehouse of Fleet; and three-star, 36-room Fernhill Hotel located in Portpatrick.
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