Nordic private equity company Sveafastigheter has added another hotel to its third fund through the acquisition of the Ibis Hotel Malmö in Sweden from local property company Locellus for an undisclosed amount. The acquisition is carried out through a joint venture together with hotel asset manager Midstar and the Cologne-based hotel operating partner Event Holding.
Nordic private equity company Sveafastigheter has added another hotel to its third fund through the acquisition of the Ibis Hotel Malmö in Sweden from local property company Locellus for an undisclosed amount. The acquisition is carried out through a joint venture together with hotel asset manager Midstar and the Cologne-based hotel operating partner Event Holding.
The 255-room hotel is located in central Malmö with close proximity to Swedbank Stadion and Malmö Arena, an area under strong development. Through a previous transaction, completed at the end of last year, Sveafastigheter bought Accor's local operating company as well as 14 hotels while a Sveafastigheter subsidiary leased the Ibis hotel Malmö.
'We are pleased to add the Ibis hotel Malmö to our portfolio, and to continue building on the platform created last year. The hotel has great potential and with the right investment programme we expect it to add value to the portfolio,' said Simon de Château, CEO at Sveafastigheter.
Event Holding is an active hotel investor/operator in Germany and France and operates hotels under franchise agreements with leading brands such as the Accor brands, Rezidor, Westin, Marriott and Nikko.
Also this week, Sveafastigheter held the third and final close in its latest fund, Sveafastigheter Fund III. Including previous commitments, the fund has now received capital commitments totalling EUR 317 mln.
