UK investment manager M&G Real Estate has acquired the Holiday Inn Express hotel located in Amsterdam’s Sloterdijk district from Invesco Real Estate for €42.8 mln.
The deal marks the first investment in the Netherlands for M&G’s European Secured Property Income Fund (Eurospif). The hotel is operated on a long-term lease by the Vincent Hotel Group.
The acquisition is the third hotel investment for the Eurospif fund, which now has €473 mln invested in eight European countries. Pension funds and insurers have committed a total €656 mln to the strategy to date.
Savills advised M&G Real Estate on the transaction.
The Holiday Inn hotel is located next to Amsterdam Sloterdijk railway station which has direct links to Schiphol airport and the city centre. Previously home to a monofunctional business park, the Sloterdijk area is undergoing a transformation into a mixed-use district combining office, residential and leisure functions.
