Aprirose has bought a UK hotel portfolio for £525m (€597m) on behalf of investors that include China’s Cindat Capital Management.
The QHotel portfolio, which includes 26 five and four-star hotels, was sold by Bain Capital Credit and Canyon Partners.
Aprirose said it was the largest hotel transaction this year, and was funded by international investors, including Chinese private equity form Cindat Capital Management.
Manish Gudka, chief executive of Aprirose, said: “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.”
Gary Jones, chief operating officer at Aprirose, said: “Our strategy is to double the value of assets under management, while at the same time exiting from maturing transactions.
“This acquisition is part of a wider strategy and takes our portfolio to circa £1.7bn of assets under management.
“We have the resources to continue to grow our balance sheet and we remain very keen to purchase further UK real estate over a variety of asset classes that will show good returns to Aprirose and our investors.”