The French investor strengthens its partnership with the Pierre&Vacances Center Parcs group by acquiring Center Parcs Nordseeküste on the North Sea coast.
ATREAM acquires 248 cottages comprising 97 apartments and 78 rooms for 11.8 million euros on behalf of SCPI Atream Hotels. The estate also houses shops, 3 restaurants and an Acqua Mundo.
The purchase is linked to a 15-year lease concluded with PVCP, ATREAM's partner since 2016. The investor now owns 4 out of the group's 6 hotels in Germany.
ATREAM had also acquired the Eemhof Estate in Amsterdam on behalf of several investors last December. This acquisition was part of a plan to renovate the site and its 651 cottages, including a 50-room hotel, 100 apartments and 5 boathouses, for an amount of 170 million euros.
At the time of this acquisition Pascal Savary, president of ATREAM indicated "With this new acquisition, Atream consolidates its positioning on the strategic segment of tourism in Europe. We are delighted to strengthen our partnership with the Pierre & Vacances Center Parcs group, historically positioned in the Netherlands, which also shares our commitment to sustainable development. »
The purchase of the Center Parcs Nordseeküste is also part of this strategy.
Yann Caillère, Managing Director of the Pierre&Vacances Center Parcs Group, had shared with Hospitality ON his desire to lead the group towards asset light and found in ATREAM a strategically interested partner for the acquisition of some of its properties.