PGIM Real Estate, Cairn create UK hotels investment venture
PGIM Real Estate said today it has formed an investment partnership with Cairn Group’s newly formed division to take advantage of a recovery in the UK hotel sector. PGIM Real Estate, investing on behalf of a value-add strategy, has teamed up with Madison Cairn with a plan to acquire, develop and reposition hotels. The manager said the venture, which has already secured a strong pipeline of activity, has made its first investment in Brighton. Charles Crowe, managing director and head...