Union Investment acquires new operators for hotels in New York City and Portland

Union Investment has acquired two new, big-name operators for its hotels in New York City and Portland, both of which are held by UniImmo: Global. Motel One has signed a 20-year lease for the hotel in New York City. In Portland, Oxford Capital Group will take over as tenant and manager of The Porter hotel. The hotel will continue to form part of the Curio Collection by Hilton. The hotel in New York City has already been handed over to Motel One, and the hotel in Portland is also due to be handed over in July.

“In this challenging market environment, we’re pleased to have found solutions that secure a viable future for these hotels. We have achieved this by teaming with strong hotel partners with whom we have worked closely for many years. The follow-on leases were agreed quickly, underlining just how attractive these two properties and their locations are,” said Martin Schaller, head of Asset Management Hospitality at Union Investment. The previous operators of the two