The Cambridge Belfry
The UK-based real estate investment company has acquired the portfolio of 26 five and four star regional hotels from Bain Capital Credit and Canyon Partners for £525m.
The portfolio is made up of a variety of hotels including spa hotels, golf resorts and luxury hotels in major cities such as Leeds, Manchester and Glasgow.
The acquisition of the portfolio marks the largest hotel transaction this year. The deal was funded by Aprirose and their roster of international investors, including Chinese investor Cindat Capital Management.
Manish Gudka, CEO at Aprirose, said: “We are pleased to have completed on this exciting and unique portfolio.
“This was a complicated deal, which had a lot of interest shown in it from the market, but owing to our investors, contacts and transactional experience we were able to get it done in quick time.
“The 26 hotels, spread throughout the UK, will add a new dimension to our asset diverse real estate portfolio and also offer us opportunities to further develop the portfolio to increase the number of beds available.”
Aprirose have appointed Redefine|BDL Hotels, the UK's leading hotel management company, to manage the 26 hotels continuing an already successful partnership.
The acquisition of the QHotel portfolio follows Aprirose’s purchase of the 73 asset M&B pub portfolio, which has been named Milton Pubs & Taverns.
Aprirose was advised by Colliers, West Ridge, KPMG and Dentons and Bain Capital Credit and Canyon Partners were advised by Eastdil Secured, Deloitte, DLA and Jones Day.