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Press Releases 2016
INTERNOS closes Acquisition of the Suecia Hotel in Madrid as part of its “Value Add” hotel real estate mandate
INTERNOS Global Investors (INTERNOS), the pan European owner-managed real estate fund manager with €3.5 billion AUM, has completed the €45 million acquisition of the Suecia Hotel from Explotadora de Hoteles EDTL S.L as part of its Hotel Real Value Plus “Value Add” mandate via the Master-KVG provided by Institutional Investment Partners. The hotel will be operated under a long lease containing fixed and variable rent components from the Spanish NH Hotel Group.
This 4* hotel has 127 rooms, a restaurant, bar, six conference rooms and 13 parking spaces. It is located in the historical centre of Madrid, only a short walk from the most important city sights, including Gran Via and the Prado Museum. The hotel was acquired because we can add value due to the strategic city centre location, the quality of the hotel, a planned repositioning and rebranding of the hotel and the new long term, hybrid lease contract with NH Hotel Group.
Jochen Schaefer-Suren, Partner managing INTERNOS’ Hotel and Leisure division and this value add mandate, commented: “The acquisition of this hotel allows to add value due to the change of the brand, improvements to the property, the new long term lease, the on going recovery in the Madrid hotel market as well as the increased diversification of the hotel portfolio within the fund. We are pleased that with this acquisition the overall number of hotels managed by INTERNOS has increased to 16 hotels with a total value of nearly €550 million since foundation of the hotel and leisure division in 2011.”
For 2016 and thereafter, INTERNOS will continue to manage its existing hotel fund and acquire hotel real estate with the remaining capital of our Hotel “Value Add” mandate and our forthcoming second Internos hotel fund “Enhancing Core Values”. Together these three investment vehicles allow to cover the entire scope of hotel investments including not only leases but now also management contracts and resort hotels where investments are compelling. In total we have capital in excess of €250 Mio we hope to invest in hotel real estate in 2016 and thus actively pursue various new hotel purchases along the hotel investment spectrum while maintaining attractive yield and risk return profiles.
Company contact for further information:
INTERNOS Global Investors
Partner Head of Hotel & Leisure
+ 44 207 355 8888
Press contact for further information:
Jeremy Carey/ James Verstringhe
+44 207 920 3150 firstname.lastname@example.org
Notes to Editors:
Since its formation by Andrew Thornton and Jos Short in 2008, INTERNOS has become a significant pan-European investment manager with offices in London, Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan with approximately 100 employees and commercial property investments in 11 countries, €3.5 billion under management and its earliest funds dating from 2005. INTERNOS has expertise across the real estate asset classes and major European markets.
About the Real Value Plus – Hotel Value Add Mandate
The fund is in the form of a German “Spezialfonds” for a German institutional investor provided by Institutional Investment Partners. INTERNOS manages this hotel real estate specific mandate within this Master fund for a total of €200 million of hotel real estate investments with a value add strategy.
About INTERNOS Hotel Real Estate Fund I
Internos Hotel Fund I with AUM of over €400 Mio. owns 13 different hotels operated by various hotel groups under long term leases which are concentrated in Germany Austria and the Netherlands. is structured as a German ‘Spezialfonds’ operated by INTERNOS’ Kapitalverwaltungsgesellschaft (KVG).
About INTERNOS Hotel Real Estate Fund II
Internos Hotel fund II “Enhancing core Values will target opportunities to invest across Europe in high quality hotel real estate that allows to enhance their value by improving their profile to core assets. This second Hotel fund will also be structured as a German ‘Spezialfonds’ operated by INTERNOS’ Kapitalverwaltungsgesellschaft (KVG).
All the Internos Hotel funds and mandate are managed by a team of hotel real estate and fund management specialists in the INTERNOS Hotel and Leisure Division led by the INTERNOS Head Hotels and Leisure and partner Jochen Schaefer-Suren who founded the Internos Hotel and Leisure Division in 2011.