Oman’s sovereign wealth fund is reportedly poised to acquire an eight-hotel European portfolio from U.S. edge fund Baupost Group and Westmont Capital Group for €380 million (US$418 million), according to PropertyWeek.com.
The “Napoleon” portfolio is composed primarily of Hilton hotels in Dresden and Dusseldorf, Germany, as well as Luxembourg, Barcelona, Zurich, Strasbourg, France, and Paris, among others. The portfolio’s previous owner was Morgan Stanley, which acquired the hotels in 2007 for €566 million (US$622 million) from Hilton Hotels Corp.
PropertyWeek also said UK-based hotel investor Shiva is mulling the sale of four Hiltons in London for £270 million (US$411 million).