Park Plaza London Waterloo bought via a club deal transaction for €182 million
Just opened, the London hotel is changing hands for €181.8 million, as it was just acquired by various pension funds via a club deal transaction.
Park Plaza London Waterloo
The Park Plaza London Waterloo hotel has just been purchased for €181.8 million (£160 million). The transaction was made via a club deal agreement by several pension funds, which concluded the operation through the broker's investment vehicle.
The upscale hotel, which features 497 rooms and a living room, a bar, a café, a spa, a fitness centre with a swimming pool and six meeting rooms, had just opened its doors in London's South Bank district, near the city centre of the British capital.
The seller PPHE Hotel Group, which will continue to operate the property, and the pension funds which acquired it have settled on an initial rent of €6.4 million (£5.6 million), equivalent to a 3.5% yield per year; the rent will be adjusted each year according to price changes.