LaSalle and NUMA Group launch 500 Million EUR pan-European urban hotel portfolio strategy
LaSalle Investment Management’s Strategic Partnership with NUMA Group
LONDON (April 27, 2022) — LaSalle Investment Management (“LaSalle”) is launching a €500m pan-European urban hotel aggregation strategy via a strategic partnership with NUMA Group, a leading European technology-driven alternative accommodation operator.
The strategic partnership, forming part of LaSalle’s growing Value-Add Investments business line, will seek to acquire, refurbish and operate vacant or soon-to-be-vacant urban hotels, serviced and extended stay apartments, boutique hotels, as well as conversion projects from non-institutional or unbranded owners and owner-operators in Western European A-cities. Under the strategic partnership, these properties will be designed, managed, and operated by NUMA Group through its proven tech-enabled operating model.
The strategy will target properties in prime city-centre locations, providing an attractive exit solution for their current owners. A pipeline of 15 city-centre assets in the UK, Spain, Italy, and the Netherlands representing over €450m in value has already been identified.
Read SKIFT’s article about the deal:
“A Third Hospitality Model That Big Brands Have Essentially Ignored“
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