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October 19, 2021

Tristan’s EPISO 5 Fund buys four-star hotel in Manchester, England

The hotel completed a three-year conversion programme and opened in May this year.

Tristan Capital Partners’ opportunistic real estate fund EPISO 5 has purchased a 261-room, four-star hotel in Manchester, England.

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Located in Deansgate, the hotel opened in May this year after completing a three-year conversion programme.

The hotel features ad advanced gym, which is currently occupied by fitness studio Trib3, and a contemporary F&B offering.

Following the acquisition, EPISO 5 Fund plans to rebrand the hotel to YOTEL, a lifestyle brand with a network of 18 hotels operating across Europe, Asia, and North America.

The property will be operated by hotel advisory firm Hamilton Hotel Partners.

Financial terms of the transaction are not disclosed.

It is the first asset of the EPISO 5 Fund’s new $582.8m (€500m) hotel investment strategy in Manchester.

Tristan Capital Partners investment executive director Kristian Smyth said: “This acquisition represents the first step in our wider hotel strategy, and we are very excited to have started with a hotel of this quality.

“The acquisition is our first alongside Hamilton Hotel Partners and we expect to continue to grow this relationship.”

“Funds advised by Tristan have been actively pursuing hospitality opportunities with an emphasis on the UK and Spain and we are focused on acquiring assets which we believe will fit into either our core-plus or opportunistic funds.

“Our objective is to invest in excess of €500m over the next 12 months and we are currently in discussions regarding a number of transactions in this space.”

Greenberg Traurig, PWC, Workman and HVS advised the Fund in relation to the acquisition.

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Free Report
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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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