Sellers are bringing UK hotels, London and German offices as well as Irish logistics assets to the market this week.
Vastint, a Swiss company linked to the Inter Ikea Group, instructed JLL and KPMG UK to sell a landmark UK hotel portfolio valued at £500m (€578), following the completion of a strategic review.
The portfolio includes 15 purpose-built Marriott-branded hotels, totalling 3,230 rooms, and is operated by Vastint’s in-house platform, Hotel Co 51 UK, under franchise agreements.
With an average build age of just five years, the portfolio is one of the most environmentally advanced hotel packages in the UK.
The portfolio is coming to market at a time of growing investor appetite for operational real estate, with the UK hotel market showing strong momentum. Select service hotels, in particular, are well-positioned to benefit from rising demand across both business and leisure travel segments, according to JLL which is managing the sale.
Kerr Young, head of UK national hotels at JLL, said: “This represents a high-quality select service UK hotel portfolio that benefits from a well-invested and scaled in-house operational platform underpinned by best-in-class brand recognition under Marriott’s powerful global distribution platform.”
A second hotel sale process launched in Spain, with Benalma Costa del Sol reportedly being put on the block for €80m. The 336-room asset last traded in 2022 for €51m.
In the resurgent office sector, Global Holdings has put 210 Pentonville Road in London up for sale through JLL for £90m, while ESR is said to be considering the disposal of Fujifilm’s European office headquarters in Ratingen, Germany.
A range of opportunities in the logistics, living and office sector are being put on the block in Dublin and Belfast. IPUT is marketing the North Gate logistics portfolio through Savills for €55m, with the advisor also selling a major logistics platform in Belfast which is let in its entirety to Amazon.
Meanwhile, Marlet has mandated C&W to sell The Residence Stoneybatter, offering students nearly 200 beds in Dublin and The Beckett Building is coming up for sale again through Colliers with a €25m asking price. The asset on East Wall Road in Dublin was bought by the South Korean Kookmin Bank for €101m in 2018.
| Recently completed deals | |||||||
|---|---|---|---|---|---|---|---|
| Asset | Asset type | Location | Buyer | Vendor | Size | Price (mln) | Key facts |
| 40% stake in Luz Saude | healthcare | Portugal | Macquarie | Fidelidade | 30 assets | €310 | Luz Saúde consists of 14 private hospitals, 15 private outpatient clinics, and one senior residential facility. |
| Novotel West London | hotel | London | Arora, Deva Capital | Ares | 630 rooms | £160 (€185) | The property is part of a 21-asset package Ares bought in May 2024 alongside operating partner EQ Group. |
| Birchwood Court apartment complex | living | Dublin | Ardstone | NA | 180 units | €79 | The newly-built property, which is currently vacant, represents a net yield of around 5.25% and will be ready for leasing in November. |
| One Lyric Square | office | London | Iroko Zen | Schroder Capital UK Real Estate Fund | 101,000sqft | £58 (€67) | It is fully leased to coworking specialist The Office Group,, which operates it under the Fora brand. |
| 30 assets | mixed | Sweden | NP3 Fastigheter | NA | 51,700m2 | €63 (SEK685) | The properties are located in Gävle, Falun, Luleå, Umeå, Sandviken, Borlänge, Timrå, Ljusdal and Hudiksvall as well as several other locations. |
| portfolio of five modern Premier Inn hotels | hotel | UK | LondonMetric Property Plc | Whitbread | 446 bedrooms | £44.4 (€51) | The hotels are located in Chatham, Exeter St David’s, Penzance, Southampton and Witney. |
| warehouse asset | logistics | Zatec, Czech Republic | Clarion Partners Europe | Yanfeng | 47,000m2 | €50 | Completed in phases between 2012 and 2018, the property is fully let to Yanfeng. |
| 1-5 Poland Street | office | London | Belsio, Valorem Investment Partners | Aquarelle | 27,016sqft | £41 (€47) | The building is fully let to TAG Worldwide. |
| Harlequin Business Park | logistics | London | Ableprop | Chancerygate and Bridges Fund Management | 90,000sqft | £40 (€46) | The asset has just achieved practical completion. |
| student housing project | living | Aachen, Germany | Ardian and Rockfield | HLG Real Estate | 300 apartments | NA | Deal is the first transaction in Germany under their pan-European student housing strategy. |
| Arts&Lux | office | Brussels | Ampega Asset Management | AG Real Estate | 18,400m2 | NA | The centrally-located asset is fully occupied. |
| Station West property | office | Mainz, Germany | Beyond Real Estate Holding | Principal AM | 12,500m2 | NA | The asset was bought by Montano Real Estate on behalf of Beyond. |
| Toniq1 | office | Düsseldorf | HIH Invest Real Estate | Langen Immobilien | 13,344m2 | NA | The main tenant is the Federal Institute for Real Estate (BImA), which has rented the building on behalf of the main customs office in Düsseldorf. |
| Dom Dochodowy | mixed | Warsaw | Generali Fond Realit fund | mLeasing | 5,300m2 | NA | The centrally located asset offers 3,300m2 of modern office space and 2,000m2 of high-end retail and service space. |
| life science campus | alternative | s-Hertogenbosch, the Netherlands | Arkea REIM | NA | 14,100m2 | NA | The asset is fully let. |
| Barking Wharf | living | London | Greystar | Invesco Real Estate | 595 homes | NA | Completed in 2021, the 595-home build-to-rent community will be operated under Greystar’s Momento brand. |
| First | office | Rotterdam | Bouwinvest Dutch Institutional Office Fund | Union Investment | 39,000m2 | NA | The property is located in front of Rotterdam’s central station. |
| Assets on the market | |||||||
|---|---|---|---|---|---|---|---|
| Asset | Asset type | Location | Vendor | Size | Price (mln) | Broker | Key facts |
| 15 purpose-built Marriott-branded UK hotels | hotel | UK | Vastint | 3,230 rooms | £500 (€578) | JLL and KPMG UK | With an average build age of just five years, it is one of the most environmentally advanced hotel portfolios in the UK. |
| 210 Pentonville Road | office | London | Global Holdings | 88,000sqft | £90 (€104) | JLL | The all-electric building recently underwent a rolling refurbishment and is multilet with 91% occupancy. |
| Benalma Costa del Sol | hotel | Benalmádena, Spain | Brookfield | 336 rooms | €80 | NA | The asset last traded for €51m in 2022. |
| Balcke-Dürr-Allee 6 | office | Ratingen, Germany | ESR | NA | €60 | NA | The property serves as Fujifilm’s European HQ. |
| North Gate Logistics portfolio | logistics | Dublin | IPUT | 34,000sqft | €55 | Savills | The 12-property industrial portfolio is 100% let. |
| The Residence Stoneybatter | living | Dublin | Marlet | 193 beds | €42 | C&W | The complex was completed in the summer of 2024. |
| logistics asset | logistics | Belfast | NA | 411,185sqft | £28.83 (€33) | Savills | The property is let in its entirety to Amazon UK Services Ltd on a straight 15-year full repairing and insuring lease from September 2020. |
| The Beckett Building | office | Dublin | Receivers Grant Thornton | 188,228sqft | €25 | Colliers | The figure represents a 75% discount on the €101m South Korean Kookmin Bank paid for the asset in 2018. |
| Erneside Shopping Centre | retail | Enniskillen, Northern Ireland | NA | 171,590sqft | £15 (€17) | Savills | The sale reflects a net initial yield of 12.75% at the guide price. |
| 2-4 Princes Way | office | Solihull, UK | Fidelity International | 71,000sqft | £15 (€17) | Atlas Real Estate | It bought the asset in 2015 for £20m. |
| Schadowstrasse 26 | mixed | Düsseldorf | Centrum | NA | NA | NA | The asset has retail accommodation on the ground floor and offices above. |
| Owl portfolio | living | Germany | Peach Property | 58,000m2 | NA | Aengevelt | The 840 apartments are located in established and sought-after residential districts in cities including Osnabrück, Bielefeld, Hamelin and Minden. |
| pub portfolio | alternative | England | Stonegate Group | 23 assets | NA | Savills | The properties are all let on long leases with annual retail price index linked rent reviews. |
| Interchange26 industrial site | logistics | Bradford, UK | Keyland | 130,000sqft | NA | DHP | The sale is for the second phase of the project, which obtained planning permission in 2023 from Kirklees Council. |
| Recently completed loans | ||||
|---|---|---|---|---|
| Lender(s) | Borrower(s) | Asset(s) | Loan Size (mln) | Key facts |
| NA | Kinland | Social infrastructure portfolio in the Nordics | €900 | The platform includes drawn bank term loans and fixed-rate institutional notes as well as a sizeable undrawn, multi-currency CAPEX facility from a consortium of leading international lenders. |
| Deutsche Bank | Areim | EcoDataCenter | €609 | The loan will accelerate the construction of large-scale data centres in Falun and Borlange, north of Stockholm. |
| Varde | NA | Frankfurt office campus | €250 | The asset is fully let to the State of Hesse. |
| Apollo | Cerberus and Almcor | IOS platform of 9 assets in the UK and the Netherlands | £190 (€220) | The funding will support the future growth of the IOS platform. |
| Invesco Real Estate | Bridge Industrial | London logistics portfolio | £158 (€183) | The 2+1 year loan has been made on behalf of a perpetual life real estate investment trust managed by Invesco that is focused on private credit secured by real estate. |
| ING Bank | Stoneweg Europe Stapled Trust | Haagse Poort in the Hague | €50 | The five-year green development loan will primarily finance the extensive redevelopment of Haagse Poort, SERT’s largest asset in The Hague, Netherlands. |
| Helaba | G City | Ostrobramska resi project in Warsaw | €32 | This development will feature 15,700 m2 of residential space, 442 apartments, and 277 parking spots. |
| PKO Bank Polski | Panattoni | Panattoni Park Sosnowiec V | €30.5 | The development loan will fund construction of the 52,000m2 scheme. |
| Arc & Co | Downing LLP | office asset in Brighton, UK | £17.64 (€21) | The funding supports the acquisition and comprehensive refurbishment of an office asset in Brighton by the developer client. |
| New mandates/JVs and funds on the market | |||
|---|---|---|---|
| Firm | Fund/mandate/JV | Strategy | Details |
| Pictet Alternative Advisors and Stoneweg | New Dutch logistics JV | Investing in small and mid-box logistics assets | The Axis platform will look to deploy €200m and is majority owned by PAA. It is seeded with 8 high-quality logistics properties. |
| PenSam, Vengrove | VRE Evergreen Logistics Partners | Investing in light-industrial and logistics real estate in the UK, Germany and France. | With initial equity of €200m, the core-plus strategy will focus on assets in urban metropolitan areas, logistics corridors and close to transport hubs in and around core cities. |
| Hines | Hines European Property Partners Fund | HEPP targets the major asset classes of industrial, living, retail and office, in addition to emerging sectors such as data centres and senior living across Europe. | Oregon Public Employees Retirement Fund (Oregon PERF) has issued its first-ever investment in a European real estate fund, with a €100m commitment to the vehicle. |
| EQT Exeter | European logistics fund | Investing in the European logistics sector with a value-add strategy | Orange County Employees Retirement System has made a €90m commitment to the vehicle. |
| Vistry | Homes England JV | Creating UK communities of between 400 and 3,000 homes each. | The new vehicle, named Hestia, is backed by a combined £150 million of capital investment by Homes England and Vistry. |
