-
LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a central London hotel from abrdn for £56 million on behalf of a UK Custom Account client.
The modern, 291-bedroom hotel is situated on the Minories, at Tower Hill in the City of London. The hotel is let to Motel One – the European hotel operator – on a long-term inflation-linked lease. The building achieved a BREEAM ‘Excellent’ rating on its construction in 2014 and has an EPC rating of ‘A’.
Sophie Simmonds, Managing Director, UK Custom Accounts at LaSalle, said: “We are delighted to add this acquisition to our client’s growing portfolio. The hotel meets our objectives, being a high-quality asset with strong sustainability credentials, in a fantastic city-centre location, with a long-term inflation-linked income stream, and leased to a leading European hotel operator.”
LaSalle was advised on the transaction by Kimmre. abrdn was advised by JLL.
Ends
About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate property and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.com, and LinkedIn.Company news
Sep 17, 2024 Elena Alschuler receives Nareit’s 2024 Sustainable Leadership Award Nareit’s inaugural Sustainability Impact Awards recognize REITs for leadership in advancing sustainabilitySep 11, 2024 LaSalle leases 69 Boulevard Haussmann in Paris to FLEX-O LaSalle has agreed a lease of a landmark office building in Paris with a provider of premium coworking and office spaces.Sep 06, 2024 Paris scores as Europe’s top market for logistics centrality; Netherlands highest-scoring country – LaSalle’s Paths of Distribution Score The innovative, granular new research gives the ability to compare logistics locations at a micro, market, country and pan-European level.No results found