Israeli holding group Elbit Imaging has exchanged contracts to sell the Radisson Blu and Park Inn hotels in Antwerp, Belgium, to US private equity firm KKR for €48 mln.

Israeli holding group Elbit Imaging has exchanged contracts to sell the Radisson Blu and Park Inn hotels in Antwerp, Belgium, to US private equity firm KKR for €48 mln.

Both properties are located on Koningin Astridplein in the historical centre of Antwerp and boast a total of 36,000 m2. The four-star Radisson Blu hotel comprises 247 rooms, 18 conference rooms, a ballroom, brasserie, breakfast area, bar and health club. The newly refurbished Park Inn by Radisson comprises 59 rooms and suites, a breakfast area, lounge, and fitness centre.

Elbit Imaging is the majority owner of CEE and emerging markets property developer Plaza Centers.

'This transaction is demonstrative of international capital targeting prime assets within secondary European cities,' said Adam Wilson, vice-president of JLL’s Hotel and Hospitality Group, which advised the vendor. 'It is a trend we are seeing, partly as a result of intense competition for real estate in gateway cities such as London and Paris.'