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APG AND GIC JOINTLY ESTABLISH ARCHER HOTEL CAPITAL

By February 13, 2019March 14th, 2019No Comments

Dutch pension firm APG Group and Singapore-based GIC Real Estate have jointly formed a new European hotel investment vehicle, Archer Hotel Capital B.V. This announcement is following last-year’s acquisition of Host Hotels & Resorts, which comprises a portfolio of eleven hotels and over 4,000 rooms in major Western European cities, including the Westin Palace Madrid, Hilton Amsterdam Airport and the Renaissance Paris Vendôme. All eleven assets will be transferred to Archer Hotel Capital and total some €2 billion in gross asset value. The new vehicle’s shareholders intend to commit an additional €300 million in equity to capitalise on future investment opportunities.

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