APG and GIC-Backed Archer Hotel Acquires the Royal St. Honoré Hotel in Paris
Posted on 11/27/2022
Together, APG Asset Management and GIC Real Estate revealed the creation of a jointly owned, specialist European hotel, “The Archer Hotel Capital B.V.” Plans for this investment vehicle were revealed in January 2019 by the real estate unit of Singapore’s GIC Private Limited. The creation of Archer followed the acquisition of Host Hotels & Resorts’ minority Limited Partner and General Partner interests. This European joint venture was successfully concluded on December 21, 2018.
In November, London-based Archer Hotel Capital acquired the 68-room Royal St. Honoré hotel in Paris for €87 million. This property includes a retail unit located on Paris’s famous shopping street, Rue St. Honoré. The prime location is adjacent to Archer’s Renaissance Paris Vendome Hotel, and will be operated by Archer Hotel Management, Archer’s operating arm.
Keywords: Stichting Pensioenfonds ABP.
