Alpha Real Capital, a specialist manager of long-income real assets, has completed a ground-rent transaction over a circa £1 billion ($1.3 billion) portfolio of three central London hotels on behalf of its Index Linked Income Fund (ILIF).
This is the fund’s largest transaction to date.
The transaction follows the recent purchase of the hotels by Queensgate Investments, the owner of Generator hostels and the Kensington Forum hotel. Queensgate has leased the hotels to Fattal Hotel Group, an international hotel group that operates around 200 hotels in 17 countries, under the Jurys Inn and Leonardo brands. The hotels will receive significant new investment by Fattal with the St Pauls and City hotels rebranded to the luxury Leonardo Royal portfolio. The Holborn hotel will become Fattal’s first Nyx Hotel property in the United Kingdom.
The new investment takes ILIF’s total assets past £1.4 billion ($1.8 billion) across more than 500 properties.Hugo James, part
