BAE Pension and Zurich Investment Foundation Acquire Softel Gatwick Hotel Property
Posted on 10/07/2019
BAE Systems Pensions, through its unit BAE Systems Pension Funds Investment Management Limited, and the Zurich Investment Foundation have bought the 518-room Sofitel Gatwick North Terminal hotel in the U.K. through a joint venture. The property also include 5,000 square feet of office space. The seller is Arora Hotels and will continue to operate the hotel.
Schroders made the investment on behalf of BAE Systems Pension Funds Investment Management Limited. Immobilien Europa Direkt is an investment vehicle of the Zurich Investment Foundation that made the investment.