JLL advises Europa Capital on the disposal of Radisson Collection Hotel in Warsaw
LONDON, 16 December 2019 – JLL advised Europa Capital, a pan-European real estate investment manager, on the disposal of the Radisson Collection Hotel, a 311 guestroom luxury hotel in the city centre of Warsaw to Wenaasgruppen, a Norwegian family owned fund. The asset will continue to be managed by Radisson Hotel Group under a long-term management agreement.
The property is located in the heart of the capital's Central Business District and within easy reach from Warsaw’s major tourist attractions. Following a thorough six-month long refurbishment process, the asset was rebranded from a Radisson Blu to a luxury Radisson Collection brand. The hotel re-opened its door to the public in June 2019.
Europa Capital acquired the asset in 2017 on behalf of its value-add fund Europa V.
James Pennington, Director, Europa Capital Partners LLP, commented: “Having received very positive feedback from the market following the completion of the refurbishment and subsequent reopening of the hotel in June this year, we have agreed this sale ahead of business plan. We acquired the asset in 2017 having identified an opportunity to capitalise on Warsaw’s growing popularity as a destination for business travelers and tourists and, by leveraging our asset management expertise, have delivered excellent returns for our investors.”
Ana Ivanovic, Senior Vice President, JLL Hotels & Hospitality, EMEA, JLL said: “We’re excited to have been able to support our client on this strategic deal. This transaction demonstrates the ability of private equity funds to meet their required returns in the Central & Eastern European region, which investors of this type were typically shying away from. We would expect Europa Capital’s second successful repositioning story in Warsaw to encourage more capital into the region.”
Notes to editors:
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
About Europa Capital
Europa Capital is a dedicated real estate investment manager focused on the European markets. We specialise in investment through both equity and debt strategies where we employ our real estate asset management skills and experience to maximise value in all property classes across Europe.
Since its formation in 1995, Europa Capital has collectively raised eleven real estate funds and committed to over 135 transactions totalling more than €11.4 billion across 21 European countries.
Europa Capital focusses on delivering compelling risk adjusted returns for a global audience of investors driven by real estate fundamentals spanning value-add, core/core plus and debt investment strategies.
Europa Capital is majority owned by Mitsubishi Estate Co. Ltd, one of the world’s largest real estate groups, which is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com