London – Cedar Capital Partners obtained a loan of 200 million euros from the German bank Aareal to help aCquire with Ares Management Corp. A pan -European portfolio of five lifestyle hotels Under the Hoxton and Mama refuge marks, all managed by Ennismore. The properties of Amsterdam, Edinburgh, Florence, Prague and Rome were sold by the European Investment Player Fidera Vecta for 400 million euros ($ 417 million).
Three of the five active ingredients – Hoxton, Rome, Hoxton, Amsterdam Lloyd and Mama Shelter Prague – have undergone transformational renovations in recent years. The number of rooms also extended to 566 units. Hoxton Rome and Mama Shelter Prague are considered green properties. The other two hotels are expected to open in 2025, including the 214 -room Hoxton Edinburgh.
These are high -quality assets – 5 -solid lifestyles hotels, which we really like. “It is very difficult to obtain anything in Europe, and even less new products and lifestyle that are good and in major destinations.
Ramsey Mankarious
“These are fabulous assets,” said CEDAR Capital CEO Ramsey Mankarious, at Hotel Investment Today. “These are any new quality assets – 5 -star lifestyle hotels, which we really like. It is very difficult to get anything in Europe, not to mention new products and lifestyle that are good and in major destinations. »»
Mankarious said the funds came from a third increase in Cedar Capital, based in London, and he added that they had around $ 200 million to go because they continue to search for assets positioned in the same way, preferably in Europe.
Cedar Capital is active in the lifestyle in the past five years and is preparing to open the Shelbourne repositioned by Collins Ave in May. in Miami Beach. The 251 room hotel crosses the final touch of a renovation of $ 100.
Cedar Capital is also the owner of the Auberge Resorts collection property newly opened in Florence, Italy, called Collegio Alla Querce.
In fact, Cedar Capital Partners has acquired more than $ 4 billion in hotel assets across Europe and the United States by focusing on luxury, full service and lifestyle hotels. The recapitalization of assets has recently been completed in cooperation with real estate funds from ARES management, which belong to Ares Management Corp., a leading world alternative investment manager.