Azora, the Madrid-based European real estate investment manager, has bought two hotels in Brussells and two adjacent buildings for its European Hotel and Lodging Fund.
The transaction includes the acquisition of hotels, Le Berger and Jardin Secret, alongside two adjacent buildings to be repositioned into a hostel.
The assets add 99 hotel keys and 130 hostel beds to Azora’s hospitality portfolio and expand the Latroupe platform to over 1,600 beds across Madrid, Bilbao, Brussels, Dublin and Barcelona.
Concha Osácar, one of Azora’s founding partners, said: 'This acquisition represents a significant opportunity to expand our portfolio of urban hotels in an attractive local market where we already have an established presence.'
Azora recently acquired two Jacobs Inn hostels in Dublin and Barcelona, which will also be managed by Latroupe.
Gomez Acebo y Pombo, KPMG and Almar advised.
