​Invesco enters Portuguese hotel market with record €313m deal

Invesco Real Estate has agreed a €313m deal for three Lisbon hotels, marking its entry into the Portuguese hotel market.

The €61.5bn global real estate manager said it bought the hotels on behalf of two client-pooled and separate account mandates from Minor International (MINT).

The acquired hotels - Tivoli Avenida Liberdade Lisboa, Tivoli Oriente Lisboa and AVANI Avenida Liberdade Lisbon - will be operated by MINT’s subsidiary company NH Hotels.

Invesco said the deal, which marks the largest ever hotel real estate transaction in Portugal, takes the firm’s current portfolio to 25 investments in 8 countries with over €1.5bn of assets under management.

David Kellett, senior director hotel transactions at Invesco Real Estate, said: “This is our first transaction with Minor International and builds on our long-term relationship with NH Hotels.

“The opportunity to work in partnership with a strong European brand and experienced operator who we have had an excellent relationship with in the past is very exciting as we deliver a strong product to a growing marketplace.”

Related images

  • Tivoli Lisbon

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

  • QN-2582

    Asset class: Emerging Market Corporate Debt Hard Currency Investment Grade.
    Asset region: Emerging Markets.
    Size: USD 40 – 60 m.
    Closing date: 2020-01-07.

Begin Your Search Now