Four European hotels changed hands this week for over €500m, while a major hotel in Vienna was put on the market. 

Spanish hotel group Hotus inked the acquisition of a portfolio of nine hotels across Spain in a deal said to be worth €250m. The tourist firm is acquiring the assets, including Puerta de Madrid and Al Andalus Palace, from Pygmalion and CBRE Investment Management. 

In London, Norlake Hospitality is reportedly investing £150m to acquire Hoxton Southwark, a Central London hotel scheme, while LRO Hospitality, the European real estate investment venture backed by L+R Hotels and PGGM, has snapped up the 222-room Brussels Marriott Hotel Grand Place. Similarly, Luxemburg-based specialist real estate investment manager IREMIS bought the Steigenberger Hotel am Kanzleramt in Berlin on behalf of an unnamed US asset manager.

Also this week, Bain Capital announced its investment in Les Hôtels de Paris, the owner of a portfolio of 18 prime hotels, with 17 centrally located in Paris and one in St Tropez. As such, European hotel investment is on track to reach record levels this year, with the Iberian Peninsula, Italy and France seeing the strongest activity.

Rafael Coste Campos, a partner at Bain Capital, said: “This investment is a natural extension of our hospitality strategy, reflecting our strong conviction in the enduring fundamentals of the European market and our ability to foster operational improvements and sustainable growth.” 

In the Austrian capital city, Park Hyatt Vienna is said to be on the market again after negotiations with a Spanish family office fell through earlier this month. The property is being sold through Eastdil Secured for around €350m.  

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
nine Silken hotels hotel Spain Hotusa CBRE Global Investors and Pygmalion Capital 1,350 rooms €250 The assets were put on the market nearly a year ago.
Hoxton Southwark hotel London Yellow Tree Norlake 200 rooms £150 (€172) The hotel will continue to be managed by global hospitality company Ennismore.
Brussels Marriott Hotel Grand Place hotel Brussels LRO Hospitality Archer Hotel Capital B.V. 222 rooms €92 The hotel will be operated by L+R Hotels under a franchise agreement with Marriott
120–134 Tottenham Court Road mixed London DTZ Investors Starwood Capital 174,575sqft £58 (€66) The freehold site is anchored by a 330-room hotel.
two care homes living UK CareTrust REIT NA 265 beds €23 The homes are leased to an existing operator under long-term triple-net leases that include extension options and annual escalators.
Les Hôtels de Paris hotel France Bain Capital NA 18 assets NA Les Hôtels de Paris owns a portfolio of 18 prime hotels, with 17 properties located in Paris and one in St Tropez.
54-acre site logistics Northampton, UK Royal London Asset Management Property Graftongate 312,831sqft NA The landlord will develop 1.25m sqft of logistics space at the Brackmills Industrial Estate.
Gropius Passagen retail Berlin Hayfin Nuveen and Unibail-Rodamco-Westfield 95,000m2 NA The asset, Berlin’s largest shopping centres, generates €200m in annual tenant sales.
AMS CityDocks logistics Amsterdam CBRE Investment Management Proptimize and Built to Build Real Estate 38,000m2 NA The multi-tenant facility, which reached practical completion in September 2025, is split across two buildings.
Steigenberger Hotel am Kanzleramt hotel Berlin IREMIS for unnamed US asset manager NA 339 rooms NA IREMIS is growing its hotel and leisure platform and reinforcing its strategic commitment to support its clients in investing in high-quality hospitality assets in core European cities.
logistics assets logistics Hilden and Wolfertschwenden, Germany Nuveen Real Estate NA 33,600m2 NA The two properties were acquired for the company’s European core plus strategy.
75% stake in Regal corporate UK UAE’s Arada NA 10,000 homes NA As part of the transaction, Arada is also committing an initial £500m of capital to acquire and invest in the 150-strong Regal business.

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
Park Hyatt Vienna hotel Vienna Administrators for Signa 146 rooms €350 Eastdil Secured The asset has €155m of debt owed to BVK.
Braehead shopping centre retail Glasgow SGS Retail 811,000sqft £220 (€252) JLL The landlord is also said to have opened off-market discussions to sell the centre to Frasers.
The Forge and Mill build-to-rent properties living Leicester and Sheffield Oblix Living 195 apartments £42.5 (€49) CBRE and Harris Associates The properties were stripped back to shell and core before being rebuilt.
Renaissance office London Royal London Asset Management 101,353sqft £40 (€46) CBRE The asset is fully let to three tenants.
Ram Quarter site mixed London Greenland 70,803sqft £30 (€34) CBRE The sale reflects a net initial yield of 6.85%.
10 Livery St office Birmingham GWP and Zetland Capital 63,700sqft £30 (€34) NA The sale reflects a net initial yield of 6.75%,
Stock Exchange building on Buchanan Street retail Glasgow Columbia Threadneedle NA £22.7 (€26) JLL The building generates an annual passing rent of £1,760,532 and has a weighted average unexpired lease term of 8.66 years to expiries.
Portland House living London Aberdeen 144 beds £21 (€24) Knight Frank Portland House is let to the university until 2047, with a mutual break option in 2037.
Westington Quarry development site development Cotswolds, England Campden Estate 15 acres NA Kimmre The owner has launched a dual-track process for the selection of an operating partner and joint venture financing partners for the development of a major hospitality project.
Plus Ultra Manchester life science campus alternative Manchester Kadans 217,000sqft NA Knight Frank and Carter Jonas Preparatory site work is already underway and Plus Ultra Manchester is due for completion in the final quarter of 2027.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
ING, SocGen and HSBC Rockfield, Ardian European PBSA platform €550 The facility will fund further growth of the living platform.
Bond investors Swiss Prime Site Unsecured €500 The company’s first euro issue was more than eight times oversubscribed.
Bond investors Klépierre Unsecured €500 The firm’s first green bond carries a 12-year term and a coupon of 3.75%.
NA Mohari Hospitality and Omnam Investment Group Hotel Bauer in Venice €280 The asset was acquired by the new owners in November 2024 and is to be redeveloped.
Royal Bank of Scotland and HSBC Target Healthcare Unsecured £200 (€230) The loan replaces the group’s existing £170m facilities with the banks which were due to expire in November.
NA Peach Property 4,300 apartments €203 The seven-year refinancing was granted by a Germanbank.
Swedbank Akropolis Group Unsecured €110 The credit facility will be used to acquire 100% of shares in Galio Group.
LaSalle Investment Management Harrison Street and Artisa Group, BGO BTR scheme in Milan, logistics assets in Cologne and Munich €100 The two whole loans take the firm’s gross loan commitments across Europe over the past 12 months to more than €700m.
Ingka Investments Aurium Dublin resi scheme €73 The loan will fund construction of 169 new homes.
Fiera Real Estate Debt Strategies Chancerygate and Bridges Fund Management Torque urban logistics and multilet industrial development in Erdington £36 (€41) The senior development facility will fund the redevelopment of an existing scheme.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Greystar Dutch Essential Housing Venture Investing in the Dutch living sector. ABP is investing €500m in the new investment JV.
Schroders Capital The Self Storage Partnership Acquiring and developing self storage properties in the UK. The platform secured £100m (€114.4m) from a group of investors, including UK local government pension schemes (LGPS).

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