Real estate investment company Aprirose has acquired the ground rents of UK three hotels from Lloyds Pension Fund for an unspecified amount.
Aprirose has acquired the ground rents of the Oulton Hall in Leeds, Slaley Hall in Northumberland and Crewe Hall in Cheshire hotels which form part of the QHotels portfolio.
The QHotels portfolio, which comprises 20 branded and individual hotel and leisure resorts across the UK, is owned by Aprirose and Beijing-based international private equity firm Cindat Capital Management.
Manish Gudka, CEO, Aprirose, said: “We are pleased to have acquired the ground rents to these three hotels. The location and quality of these assets provide us with confidence in their long-term income generating capabilities and value.”
“The hotel and leisure sector remains an important focus for our business, and we are actively pursuing a number of similar opportunities. As a well-established asset class, we believe ground rents provide an attractive and robust revenue stream.”
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