Mergers & Acquisitions

🏢 Blackstone Real Estate's Core+ funds are set to acquire a 95% stake in a 6 million square feet industrial portfolio for $718 million, with Crow Holdings retaining 5% ownership. The portfolio features 25 Class A buildings mainly in Dallas and Houston. The transaction, showcasing Blackstone's strategy amid market volatility, includes assets in key U.S. industrial markets with limited vacancy. Blackstone currently owns over $90 billion in North American warehouses and nearly $170 billion globally. The deal is expected to close in the second quarter of 2025.

🏡 Grand Metropolitan Hotels acquires luxury brand Voile d’Or Hotels and Resorts, including all brand rights and management contracts. Voile d’Or operates in London, Paris, New York, Saint Jean Cap Ferrat, St. Barths, and Courchevel. The first hotel, Hotel La Voile d’Or, opened in 1925 and will reopen in 2029 after renovation. Jacques Oudinot becomes CEO, with Edouard Deschepper as board director. Martin Smura announces plans for expansion into the Maldives, Dubai, and Lisbon.

🏠 HREC Investment Advisors arranged the sale of the 70-guestroom Hampton Inn and the 64-guestroom Holiday Inn Express in Glenwood Springs, Colorado. Nightcap Management acquired the hotels, having developed and purchased over 15 hotels worth $200 million in 5 years. Representation for the seller, Terrapin Investments, was by HREC's Herb Warmbrodt, Mike Dubé, Jeffrey Duni, and Adam Lallani. Glenwood Springs' lodging market is noted for its strong performance due to record tourism.

🏨 Highline Hospitality Partners acquired the Hilton Atlanta Airport, marking their 15th hotel and 2nd property in Atlanta. Located near Hartsfield-Jackson International Airport, the hotel features 510 guestrooms, 40,000 square feet of meeting space, and amenities including two pools and a fitness center. Highline's portfolio now includes over 4,100 guestrooms and surpasses $1 billion in assets. HEI Hotels & Resorts will manage the property, their first collaboration with Highline. Plans for strategic renovations are forthcoming.

🏦 SCPI Atream Hôtels acquired The Ruck Hôtel in Lyon’s Gerland district, operated by GL Events on a 16-year fixed-term lease. The hotel is near Stade de Gerland and LOU Rugby, with a 60-year lease agreement with 53 years left as of January 2024. Featuring 134 rooms, flexible spaces, co-working areas, and a 400 m² restaurant, it hosted the New Zealand rugby team during the 2023 Rugby World Cup. The acquisition, advised by CBRE, aligns with Atream Hôtels’ investment strategy.

🏡 Grand Metropolitan Hotels acquires Voile d’Or Hotels and Resorts, gaining Brand and IP rights, and management contracts. Voile d’Or, a 100-year-old luxury brand, operates in six locations: London, Paris, New York, Saint Jean Cap Ferrat, St. Barths, and Courchevel. The acquisition expands Grand Metropolitan's luxury offerings, with future plans for the Maldives, Dubai, and Lisbon. Hotel La Voile d’Or in Saint Jean Cap Ferrat is set to reopen in 2029, honoring its 1925 origins. Jacques Oudinot is the new CEO of Voile d’Or, alongside Board Director Edouard Deschepper. The purchase price is undisclosed.

🏠 The Vanguard Hotel in Ann Arbor, Mich., now open, boasts 188 rooms, including 24 one-bedroom suites and 10 double-king suites, some with private patios. Offering amenities like Dyson hairdryers, Le Labo products, and in-room espresso machines, it caters to university visitors, alumni, and business travelers. Development overcame high market entry barriers. Features French-inspired brasserie La Serre, 11,062 square feet of meeting space, and is part of the Marriott Bonvoy’s Autograph Collection of 330+ hotels.

🏨 Citybox Hotels signed to operate a 240-room hotel in Kastrup, Copenhagen, in partnership with CapMan. The Best Western Plus Copenhagen Airport will be renovated and rebranded to open as a Citybox hotel in 2026. The hotel is one metro stop from the airport with direct city centre access. This deal follows CapMan's acquisition of a 28-hotel Nordic portfolio. Citybox has a long-term management agreement with CapMan for the Copenhagen property.