Hotel Designs Industry News: Novotel Edinburgh Park acquired out of administration by Benson Elliot and Algonquin

News - 25th Aug 2010

Novotel Edinburgh Park acquired out of administration by Benson Elliot and Algonquin

Benson Elliot Capital Management and Algonquin SA announce that they have completed the joint acquisition of the Novotel Edinburgh Park, Edinburgh. The hotel will be acquired from administrators KPMG.

The acquisition, the second for Benson Elliot in the UK following the purchase of CBXII in Milton Keynes in late March, was made on behalf of Benson Elliot Real Estate Partners II, L.P. The fund now holds a broad portfolio of investments in the UK, France, Germany, Spain, Scandinavia, and Central Europe. Benson Elliot Real Estate Partners III, L.P., a €505 million equity fund closed last year, will begin investing in the second half of 2010.

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