Cedar Capital Partners has completed a €400 million recapitalisation with Ares Management Real Estate Secondaries funds for a portfolio of five lifestyle hotels in Europe.
The portfolio - which will be owned by Cedar-managed fund Cedar Investment Partners III SCSP – consists of five assets; Hoxton Rome, Hoxton Lloyd Amsterdam and Mama Shelter Prague comprising a total of 566 rooms as well as two others which are scheduled to open this year.
CBRE’s Investment Banking team, alongside joint advisor Deutsche Bank, advised Cedar Capital Partners on the recapitalisation.
What they said
Ramsey Mankarious, CEO & founder at Cedar Capital Partners said: “We are excited to partner with Ares, and we very much look forward to advancing this portfolio of unique assets though its next growth stage.”
Michelle Creed, partner & co-head of real estate secondaries at Ares Management added: “This acquisition represents a rare lifestyle hotel opportunity that aligns with the growing trend of experiential travel across Europe. We look forward to working with the talented Cedar team, and this transaction reaffirms our team’s conviction in European real estate.”
Eoin Bastible, managing director, CBRE Investment Banking added: “We're pleased to have advised Cedar Capital Partners on this significant recapitalisation, part of a growing trend that we believe will continue through 2025. We expect investment managers and asset owners to seek innovative continuation vehicle solutions to recapitalise their portfolios.”