UK: Archer Hotel Capital, a European investment vehicle jointly owned by APG Asset Management and GIC, has acquired The Hoxton Shoreditch and The Hoxton Holborn properties for approximately £215 million.
The 210-key Hoxton Shoreditch and the 220-key Hoxton Holborn have been purchased from Norlake Hospitality. Both sites will continue to be managed by Ennismore.
Archer was advised by Hogan Lovells, Pricewaterhouse Coopers, TFT Consultants, Lockton and Howden M&A.
Dominic Seyrling, managing director of Archer Hotel Capital, said: “We are delighted to return to London with two high-quality assets with strong brand recognition in the market and in highly sought-after locations. As Europe’s leading hotel market, London remains a key city for Archer’s long-term strategic vision. We are equally pleased to enter a new operating relationship with Ennismore, which has set the benchmark in the lifestyle space over the last decade.”
Prior to the acquisition, Archer’s portfolio featured 11 hotels, representing 3,350 rooms, with a gross asset value of circa €2 billion.
Notable sites include Hotel Arts Barcelona, Conrad Dublin, and The Madrid EDITION. Additional locations include Paris, Stockholm, Brussels, Amsterdam, and Berlin.
Archer predominantly invests in operating assets but is also interested in repositioning opportunities, with a focus on gateway cities throughout Europe.