Invesco Real Estate has secured three hotels in Lisbon, Portugal, for a total investment of €313 million ($356 million) on behalf of two client pooled and separate account mandates.
David Kellett, senior director hotel transactions at Invesco Real Estate, commented: “Lisbon is a market with strong growth fundamentals, which we have been monitoring for some time. Our patience has been rewarded with access to this attractive investment opportunity of three high-profile and high-quality hotels in strong micro locations.”
The acquisition for these two mandates marks the largest ever hotel real estate transaction in Portugal and is testament to Invesco’s ability to deliver on its institutional investors’ objectives while investing in best-in-class assets in attractive markets in Europe. The deals add an additional country to Invesco Real Estate’s growing pan-European hotel portfolio, bringing its current portfolio to 25 investments in eight countries with more
