Sveafastigheter signs agreement with Ligula as operator for hotel portfolio
Sveafastigheter Fund III (”Sveafastigheter”) has signed an agreement with Ligula Hospitality Group (“Ligula”) regarding leases and operations of all hotels in the Norse Hospitality portfolio.
The portfolio embraces 13 hotel operations with a total of 1,353 rooms. Sveafastigheter acquired the main part of the portfolio from Accor Hotels in 2010, as the first investment in Sveafastigheter Fund III. At the time, the transaction included both the hotel properties and the operating company. Initially, Ligula will handle the operations on management basis. As soon as all licenses, permissions and legal requirements are in place, the agreement transfers to long term lease agreements.
- Sveafastigheter has recently completed a renovation of all hotels and hotel rooms in accordance with our business plan for the portfolio. The idea has been to upgrade the hotel standard and thereafter separate hotel operations from the properties, in order to create a distinct property portfolio with a long term operator as tenant. We are very glad to hand over the operations to a well acknowledged company as Ligula.
For comments and further information, please contact:
Erik Widmark, Partner Sveafastigheter, phone +46 8 545 075 06, email@example.com
Johan Tengelin, Partner and CEO Sveafastigheter, phone +46 8 545 075 14, firstname.lastname@example.org
Uwe Löffler, CEO Ligula Hospitality Group AB, phone +46 708 11 49 72
Sveafastigheter is a leading Nordic property fund manager. The company was founded in 2003 and currently manages assets in Sweden, Finland, Denmark and Estonia worth in total EUR 1 billion. Its latest fund, Sveafastigheter Fund III, has EUR 317 million of equity commitments.
Sveafastigheter is the investment management arm of Brunswick Real Estate - a group of market leading companies within corporate finance, transactions, investment management and debt financing focusing on real estate in the Nordics.
Ligula Hospitality Group AB
The Ligula Hospitality Group Ltd is the parent company of a group that owns, manages and develops concepts and brands in the hotel and restaurant industry. The hotel business is managed primarily under the trademark ProfilHotels, Motel L together with Apartments by Ligula. Ligula under the trademark Park Inn run hotels in Hammarby Sjöstad and in Malmö through a franchise agreement with Rezidor Hotels. Part of the Ligula Group is also the Ronnums Manor outside of Vänersborg. 2014, the Group had a revenue of MSEK 650 and 700 employees.