Singapore based private equity real estate firm, Prima Asset Management announced the strategic acquisition of a rare freehold hotel in one of London’s most attractive submarkets.
The firm made the investment on behalf of its VCC Investment Fund, managed by First Degree Global Asset Management.
In partnership with Capilon Group, a specialized London-based hotel operator and developer, and financed by OakNorth Bank, the newly acquired hotel is set to undergo an extensive refurbishment intended to transform it into a landmark destination boutique hotel. The hotel will increase from 68 rooms to more than 80 rooms, which will have an end value of approximately S$70 million ($52 million).
“With our proven track record in identifying and structuring unique risk-adjusted real estate investment opportunities, the strategic acquisition of this prime property not only signifies our focus on the resilient London hotel market but also positions us in one of London’s m
