US company Host Hotels & Resorts said its European joint venture with Dutch civil service pension fund ABP and an affiliate of the government of Singapore’s real estate investment company GIC Real Estate have purchased three properties in Brussels.
US company Host Hotels & Resorts said its European joint venture with Dutch civil service pension fund ABP and an affiliate of the government of Singapore’s real estate investment company GIC Real Estate have purchased three properties in Brussels.
Host said the joint venture closed a EUR 70.5 mln mortgage loan maturing in 2014 with an interest rate under 5.65% in conjunction with the acquisition. The joint venture has acquired the 262-room Renaissance Brussels Hotel, the 218-room Brussels Marriott Hotel and the Marriott Executive Apartments with 57 apartments. Jones Lang Lasalle acted as adviser for Marriott.
The joint venture now owns ten properties in five countries. Its portfolio includes the Hotel Arts in Barcelona; The Westin Palace in Madrid; the Sheraton Roma Hotel & Conference Center in Rome; The Westin Palace in Milan; The Westin Europa & Regina in Venice; the Sheraton Skyline Hotel & Conference Center in Hayes, England and the Sheraton Warsaw Hotel & Towers in Warsaw.
