Westbrook has acquired hotel Concorde Saint Lazare in Paris from SOVAFIM, a land and property development company, for EUR 101.5 mln. Located in the 8th arrondissement of the French capital, the hotel was built in 1889 at the same time as the Saint-Lazare train station. The hotel comprises 15,000 m2, with 300 4-star rooms and 1,400 m[sup]2[/sup] of retail space. The asset have been transferred from RFF, the French railways company, to SOVAFIM at its net book value.
Westbrook has acquired hotel Concorde Saint Lazare in Paris from SOVAFIM, a land and property development company, for EUR 101.5 mln. Located in the 8th arrondissement of the French capital, the hotel was built in 1889 at the same time as the Saint-Lazare train station. The hotel comprises 15,000 m2, with 300 4-star rooms and 1,400 m2 of retail space. The asset have been transferred from RFF, the French railways company, to SOVAFIM at its net book value.
Westbrook is a Boston-based real estate company. It recently teamed up with STAM Europe to acquire a portfolio of seven French warehouses, comprising a total of 90,000 m2, for EUR 41 mln. Six of these assets are situated in the Paris region, and one in Lyons.
