London – Paul Hasting LLP, a leading global law firm, announced today that it has advised leading global private investment firm Starwood Capital Group on the sale (by a controlled affiliate) of a portfolio of 14 U.K. hotels that form part of The Principal Hotel Company to Foncière des Régions (through its subsidiary dedicated to hotel real estate, Foncière des Murs). Terms of the transaction, which is expected to be completed in June 2018, were not disclosed.
The portfolio consists of 14 leading, full-service hotels comprised of 2,638 keys and split across two distinct landmark brands, Principal (12 hotels) and De Vere (2 hotels). The properties occupy flagship locations in high-growth cities across the U.K., including London, Manchester, Edinburgh, Glasgow, Oxford, York and Leeds. Included in the portfolio are The Principal London and The Principal Manchester, two of the most iconic and historic hotels in the U.K. For further details, please see the Starwood announcement here.
The Paul Hastings team was led by London real estate partner Michael James with London partners Justin Jowitt (finance), Arun Birla (tax), Garrett Hayes (corporate) and Suzanne Horne (employment), with associates Stephen Nicolas, Edward Meadowcroft, Saffi Rayman, Jiten Tank, Hannah Gray, Hannah Harris, and Usman Khan.
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