Pandox acquires extended stay in Edinburgh for MGBP 40.5
Pandox AB (publ) has entered into an agreement to acquire Adagio Aparthotel Edinburgh with 146 rooms in central Edinburgh, Scotland. The total transaction value amounts to approximately MGBP 40.5 including transfer tax and will be financed by cash and existing credit facilities. The tenant is Adagio Aparthotels and Pandox expects the hotel to contribute approximately MGBP 2.2 in net operating income per year in a normalised market. The acquisition is closed and accessed per 21 December 2021. The hotel is reported under the business segment Property Management.
“We are very pleased to