Apollo Global Management has reportedly agreed a deal to buy the Project Europe portfolio of European hotels from Ivanhoe Cambridge for around €425 mln.
Apollo Global Management has reportedly agreed a deal to buy the Project Europe portfolio of European hotels from Ivanhoe Cambridge for around €425 mln.
According to a news report by Property Week, the US investment manager is acquiring the package in what is believed to be its first European hotel investment.
The portfolio comprises 18 Holiday Inn hotels across Germany, Spain and France.
Jones Lang LaSalle advised Ivanhoe Cambridge on the sale. Apollo was unrepresented.
