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Starwood Capital takes over a portfolio of London hotels

The investment fund has taken control over four long-stay hotels and a residential complex for close to 266 million euros.

After Scotland (read our article), Starwood Capital is investing on the London market. The investment fund announced the acquisition of a portfolio of four long-stay hotelsand a residential complex for 206 million pounds sterling, or close to 266 million euros.

The two hotels are ideally positioned in the British capital, in Tower Bridge/Bermondsey and Earls Court/Kensington districts. Under construction since 2008, they will have a total of 650 rooms once the work is complete. The residential complex, meanwhile, will consist of 60 luxury properties. "We are excited to establish ourselves as a leading player in the extended-stay hotel/serviced apartment market, which we believe is one of the most promising and under-supplied real estate sectors in London today," declared Cody Bradshaw, senior vice president and head of European Hotels at Starwood Capital Group.

Also read:

  • Starwood Capital acquires two new hotels in Scotland

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