Real estate fund manager Europa Capital and WX Management Services (WXMS) have completed the acquisition of the Radisson Blu Centrum Hotel in central Warsaw.
The Radisson is a 311-room, four-star hotel with conference facilities, restaurants and leisure facilities including a gym, swimming pool and spa and is located in the heart of Warsaw's central business district. The investment volume for the transaction was not disclosed.
Boutique real estate advisory firm WXMS advised Europa in the process, co-invested in the transaction and will provide ongoing asset management services.
Robert Martin, co-founding principal and head of Central Europe at Europa Capital commented: 'The Warsaw hotel market is currently experiencing a period of demand-supply imbalance. This is a fantastically well-located asset in Central Warsaw with a very strong performance track record. We have experience in this sector with our successful refurbishment of the Sobieski Hotel and are teaming up with the same partner in WX Management Services to undertake a comprehensive refurbishment and to drive performance. We will be working in close co-operation with Radisson, who will continue to operate the hotel.'
