The UK arm of Marathon Asset Management has invested an undisclosed amount to buy a portfolio of 17 hotels.
CBRE said it has advised MCAP Global Finance UK on the purchase of the hotel portfolio from Cerberus Capital Management.
The portfolio consists of full-service hotels that are located in key regional markets across the UK including Leeds, Leicester, Reading and Southampton. It comprises a total of 2,374 bedrooms across 15 Holiday Inns and two Crowne Plazas.
Joe Green, a senior director at CBRE, said: “We are very pleased to have advised Marathon on their purchase of this high quality and well-positioned portfolio. This transaction reflects investors’ confidence in the recovery of the hospitality market.”
Eastdil Secured advised Cerberus on the deal.
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