KKR and European hotel real estate investor Amante Capital have acquired a 132-bedroom asset in the UK’s capital from Bartek Holdings for an unspecified amount.
The acquisition of the Park Grand London Kensington Hotel is the first transaction by investment firm KKR and its European hospitality partner Amante Capital.
KKR is investing through Real Estate Partners Europe II, the firm’s second European real estate fund that targets value-add and opportunistic investments in Western Europe.
Founded in 2022, Amante Capital is dedicated to investing in hotel real estate across Europe.
Following the acquisition, Park Grand London Kensington Hotel will undergo a major renovation to become a boutique lifestyle hotel and will be operated by Amante Capital under Marriott International’s Tribute Portfolio brand.
Mai-Lan de Marcilly, managing director and head of transactions France and Hotels at KKR, said: “We are delighted to announce our first acquisition with Amante Capital since launching the strategic partnership.
“The transaction is a testament to the talented team, reaffirming our strong conviction in building a best-in-class operating platform to invest behind strong secular demand for European and UK hospitality and attractive pricing in a dislocated capital market.”
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