Swedish hotels-focused property company Midstar has acquired five hotels in Norway and Sweden from Petter Stordalen's Strawberry Properties, the Norway-headqartered private investment company.
Financial details were not disclosed.
The assets include the Clarion Collection Hotel With (pictured) and the Clarion Collection Hotel Aurora in Tromsø (Norway), The Clarion Collection Hotel Tollboden in Drammen (Norway), Clarion Hotel Ernst in Kristiansand (Norway) and Quality Hotel 11 in Gothenburg (Sweden), making a total of 782 rooms. Current operator Nordic Choice Hotels will remain in place to run the properties.
'We are proud that our hotels have developed into attractive properties and feel secure that Midstar will continue to manage them in an excellent way,' commented Marcus Carlsson, CEO of Strawberry Properties.
'As a result of our good relations with Strawberry Properties we are very pleased to take over five profitable hotels in Gothenburg and three of Norway's strongest regional cities. Nordic Choice Hotels is the operator and we look forward to develop these hotels together with them,' said Marc Henriksen, managing partner at Midstar.
Midstar, a relatively new Swedish real estate company specialising in hotels, acquired another property from Stordalen - Hotel Entry, outside Oslo - earlier this year. The company plans to expand in the Nordics.
Pangea Property Partners and law firm Ro Sommernes advised vendor Strawberry Properties. Pangea said it had now advised on 12 Nordic hotel transactions over the last 12 months.
