Member Article

Apex secures £28m hotel sale

Apex Hotels has announced the sale of two hotels for a total of £28.65m to two separate companies, overseen by BNP Parabis.

The city centre hotel firm sold its Thames-side hotel in central London hotel to Standard Life’s annuity fund for £18.65m, reflecting a yield of 3.28%.

Apex also secured a deal with CBRE Global Investors for £10m, with a yield of 3.29%, for its 187 room hotel in Edinburgh.

Paul Henwood from BNP Parabis commented: “Working closely with Apex Hotels allowed us to successfully sell two income strip investments on their behalf. We look forward to continuing to work closely with the growing hotel chain in the future.”

This was posted in Bdaily's Members' News section by Miranda Dobson .