Global credit specialist Bain Capital Credit and alternative investment firm Orka Investments have acquired the 72-room Park Lane Mews Hotel and 17 adjacent residential units in Mayfair, London, with the aim of repositioning the property to offer a new hotel experience.
Financial details were not disclosed.
The repositioning of the hotel and residential units will include the refurbishment of the guest rooms, communal areas including the lobby, bars and restaurants, Bain Capital said.
Fabio Longo, managing director at Bain Capital Credit said: 'We are delighted to have acquired this fantastic hotel in such a prime location in partnership with Orka.
'Our expertise in the UK hospitality industry will allow us to invest strategically in the facilities and reposition the venue to reach its full potential. This further enhances the substantial real estate portfolio we have built throughout Europe, which we are actively growing through attractive investment opportunities.'
Raoul Malhotra, co-founding partner of Orka, said: 'Orka has long term conviction in the London residential and hospitality market, particularly in the Mayfair district which historically has been removed from overall market dislocations.
'We are thrilled to close this transaction and look forward to successfully building a wider platform together with Bain Capital.'
