A Middle Eastern investment group has acquired the Harrington Hotel in London's South Kensington district for €112 mln.

A Middle Eastern investment group has acquired the Harrington Hotel in London's South Kensington district for €112 mln.

The vendor was Carey Property, managed by Spanish real estate asset manager Grupo Azora.

The 4-star Harrington Hotel has 201 keys. It has been managed by NH group under the brand NH Harrington. Carey's value added fund owned, through its subsidiary Carey Property, a 75% stake in the hotel, while NH group owned the remaining 25%.

Carey Value Added is a hotel fund which currently holds nine assets in New York, London, Washington, Berlin, Cologne, Geneva and Brussels. The fund was created in 2006 and has been managed by Azora since 2010. It will continue to be present in London as the majority owner of the NH Kensington Hotel.

Grupo Azora has €3 bn of assets under management.