European real estate investment manager Azora has bought two hotels in the capital of Belgium on behalf of its APG-backed hotel and logding fund.
The Madrid-based manager said it has completed the acquisition of the Hotel Berger and Hotel Jardin Secret hotels and two adjacent buildings to the hotels in central Brussels on behalf of its Azora European Hotel and Lodging Fund.
Financial details were not disclosed.
Azora said the two adjacent buildings provide the firm with an opportunity to develop a hostel with 130 beds.
The assets, which comprise a total of 99 hotel keys, will be managed by Azora’s European hostel and lifestyle hotel operating platform Latroupe.
Source: realassets.ipe.com on the 10th of June