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Investment Firm Launches $233M Hotel Fund

LONDON- Invesco hotel fund II targets mid-market, modern hotels in strategic locations near city centres, airports and convention centres in the euro zone.

By Allan Saunderson | Updated on October 19, 2010

LONDON-Invesco Real Estate’s local office has launched a second pan-European hotel fund with an exclusivity agreement to purchase a $233 million seed portfolio.

Invesco hotel fund II targets mid-market, modern hotels in strategic locations near city centres, airports and convention centres in the euro zone, focused on long leases and operated by established national or international hotel operators with recognised brands. The fund is expected to build on the successful track record of hotel fund I which closed in November 2006 with $485 million of equity and today holds a pan-European, multi-brand portfolio of 16 mid-market hotels across nine countries with a gross asset value in excess of $900 million.

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