AEW, a company specializing in real estate investment and asset management, has announced the acquisition of the Paris Marriott Charles de Gaulle Airport hotel from Commerz Real on behalf of the SCPI Atout Pierre Diversification managed by AEW Patrimoine.
Located close to Paris Charles de Gaulle airport, the 4-star hotel covers some 17,000 square meters on five levels. It offers 300 rooms, 16 conference/event spaces, an elegant bar and a restaurant with terrace.
There are plans to install charging stations for electric vehicles in the hotel parking lot, which currently accommodates over 250 vehicles. Recent renovations have already refreshed 60% of the rooms and all conference facilities, and further improvements are planned over the coming years.
The hotel is leased to Marriott on a fixed-term contract with a residual term of 13 years, offering investors a degree of stability.
This investment is in line with AEW's strategy of diversifying its portfolio and capitalizing on the long-term growth potential of prime real estate assets. AEW Patrimoine's asset management expertise and commitment to delivering exceptional customer experiences make this acquisition an exciting addition to their portfolio.
AEW was advised in this transaction by Cheuvreux, represented by Marie-Anne Le Floch and Benoît Lassalle, and by the law firm Gide, with Antoine Mary and Cécile Regnier. Commerz Real was advised by Wargny Katz and Fidal Paris.
Eastdil Secured acted as intermediary for the transaction.
"This acquisition testifies to our ability to select assets with attractive medium-to-long-term performance potential that enable our clients to seize the opportunities offered by the current market cycle. According to our Research department, European economies are continuing to rebound from the Covid crisis, and business and tourist air travel are picking up worldwide. As the Paris 2024 Olympic Games approach, global multi-brand hotel operators such as Marriott should be able to benefit from increased international arrivals in the Paris region." - Antoine Barbier, Director of AEW Patrimoine