Foncia Pierre Gestion Buys a Portfolio of Three Hotels in Belgium for €57 million

By Dev Anand | 3 March 2020

Main Photo: The Ramada Brussels Woluwe

Date: March 2020

Location: Woluwe and two in Mons, Belgium

Names: Ramada Brussels Woluwe, the Ibis Mons Centre and the Lido Mons Centre.

No. of Keys: 172, 73 and 108 = 353

Seller: TBA

Buyer: After Germany and Luxembourg, the start of 2020 marks the entry of Foncia Pierre Gestion into the Belgian market. The Management Company makes its first investment in Belgium and acquires a portfolio of 3 Hotels: Two 4-star establishments and one 3-star establishment.

Foncia is better known for it’s residential real-estate services, including 500 retail agencies.

“This acquisition, the rate of return of which is 5.23% deed in hand with a firm 15-year lease, allows Foncia Pierre Gestion to strengthen the sustainability of the results of its SCPIs”, recalls Danielle François-Brazier, Chief Executive Officer of Foncia Pierre Gestion.

This 51% majority investment by Foncia Cap’Hebergimmo is acquired in joint possession with Foncia Pierre Rendement for 30% and Placement Pierre for 19%, thus allowing Foncia Pierre Gestion to increase the share of its hotel assets by strengthening its 353 additional rooms.

This geographic and sectoral diversification once again demonstrates a risk pooling strategy for its SCPIs.

By this choice, Foncia Pierre Gestion supports the strategy of Nehô-Group (one of the partners of the Management Company) which operates different brands (Hotels under brands, Hotels with regional dominance, Hotels with national and international chains) ensuring this continue its development in France and in Europe with sustainable management of its establishments.

Nehô-Group, which currently manages 22 establishments, with the particularity of being made up of three areas: management, engineering and investment. These three businesses offer a unique offer in which this company is a builder, investor or promoter.

Price: €57m

Price per Key: €161,473

THPT Comment: Interesting move for Foncia to diversify into hotels, although Neho has several hotels across France, Spain, Benelux and Switzerland, mainly under the Choice brands.

First Seen: Foncia website

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