Presse release - 08/12/2020
PERIAL finalises the acquisition of a hotel portfolio in the Greater Paris Region from Axe Immobilier for its SCPI PFO
PERIAL Asset Management has bought a portfolio of two hotel properties located in Meudon and Saint-Denis and managed by the operator B&B Hotels from Axe Immobilier, on behalf of its SCPI PFO, for a total amount of more than €22 M.
The portfolio comprises two hotels, both of which have 12-year from leases:
- B&B Hôtel Saint-Denis Porte de Paris
- 134 rooms
- 61 parking spaces
- Nearby transport: Tram 1, metro 13, RER D, A1 motorway
- B&B Hôtel Paris Meudon Vélizy
- 135 rooms
- 53 parking spaces
- Nearby transport: Tram T6, RER C Meudon Val-Fleury, A86 and N118 motorways
These hotels, each of which is part of a mixed-use project (hotel/residential), were developed and built by Axe Immobilier under a pre-letting agreement contract between the developer and the B&B Hotels group.
Acquired by the investment fund Goldman Sachs in 2019, B&B Hotels is a leading and fast-growing independent hotel chain in the budget & economy sector. It is known for its "Econochic" and "smart sleep" concepts, a combination of comfort, design and high-quality services at an attractive price.
Today, they have more than 500 hotels and over 40,000 rooms in 12 countries, mainly in Europe.
The hotels in Saint-Denis and Meudon both benefit from immediate access to public transport (RER, tram and metro), providing quick access to the centre of Paris as well as to various dynamic local business areas (Vélizy-Villacoublay INOVEL PARC business park for Meudon and the Cité du Cinéma, as well as the Paris-Le Bourget exhibition centre for Saint-Denis).
" This acquisition fits perfectly with the diversification strategy of the SCPI PFO through alternative assets with excellent guarantees offered by the tenant's lease. We have focused on the most resilient economic sector in the current context, oriented more towards a domestic clientele," explains Stéphane Collange, investment director of Perial Asset Management.
PERIAL AM was assisted by Oudot and Catella AM, Axe Immobilier by Aguesseau Notaries
The transaction was carried out through Cushman & Wakefield Hospitality.
Past investments are not indicative of future investments.
Source: PERIAL Asset Management
