LaSalle Investment Management has launched a €500 million ($528 million) pan-European urban hotel aggregation strategy via a strategic partnership with NUMA Group, a European technology-driven alternative accommodation operator.
“This venture exemplifies the growing symbiosis between technology and real state. We are excited to help improve the urban short stay, long stay hospitality experience alongside a strong tech partner like NUMA,” said Michael Zerda, head of debt and value-add strategies at LaSalle.
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 noninstitutional or unbranded owners and owner-operators in Western European class A cities. Under the strategic partnership, these properties will be designed, managed and operated by NUM
