Proprium has exited its 35% stake in the European hotel business to its co-owner, 17 years after making its original investment.
Via Montenapoleone 8
The mega-manager's sale of trophy asset Via Montenapoleone 8 marks Italy’s largest-ever single-asset transaction.
A market’s depth, breadth and historical trading reveal how quickly it may recover from today’s property crisis, says Tom Leahy, MSCI's head of EMEA real assets research.
US hotel owner-operator MCR Hotels has agreed to purchase the telecommunications tower from BT Group for a reported £275m.
arc place BX
The firm started its sale process in August 2023 and received interest from five domestic investors and a foreign investor.
The acquisition comes eight months after the launch of the vehicle, which has a $5bn target, in August 2023.
Although the firm will continue to own other parts of ARA Asset Management, the APF sale itself includes notable exclusions.
Henderson Park has purchased the Arizona Biltmore Hotel, former haunt of Marilyn Monroe and Frank Sinatra, from Blackstone for $705m.
With support from some of India's biggest domestic investors, the exit from Embassy REIT generated a 3x to 3.5x return for Blackstone.
While the largest diversified funds still rule the pack, capital is increasingly flowing to vehicles with a singular investment focus.

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