Goldman Sachs Asset Management and Cedar Capital Partners have acquired a UK hotel and golf resort from an affiliate of KSL Capital Partners.
The pair have invested an undisclosed sum to buy the Belfry Hotel & Resort located close to Birmingham.
The Belfry, situated within a 550-acre estate, is a full-service resort with 320 guest rooms, five restaurants, a spa and multiple leisure amenities.
Nabil Aquedim, executive director in the real estate team at Goldman Sachs Asset Management, said: “We are delighted to be partnering with Cedar for this acquisition of a renowned hotel and golf resort, which we plan to renovate and extend over the coming years.
”This investment aligns with our strategy of purchasing high-quality assets that are well-positioned to benefit from post-COVID hospitality and leisure trends. We look forward to working with Cedar and the hotel’s management team to build on the Belfry’s strong reputation as a golf resort and enhance the leisure offering.”
Phil Golding, Partner at Cedar Capital Partners, said: “We look forward to working with the hotel’s management team to build on the Belfry’s storied history, and alongside our partners at Goldman Sachs, we are proud to be the next custodians of this iconic resort.”
Raphael Bihler, VP at KSL Capital Partners, said: “We are very proud to have owned the resort for almost ten years, during which time we completed a substantial renovation and repositioning, and developed an outstanding operating team.”
To read the digital edition of the latest IPE Real Assets magazine click here.
