Alma and Midstar acquire five Danish hotels from Pandox

Alma Property Partners (“Alma”) and Midstar have entered into an agreement through a joint venture to acquire a portfolio of five hotels with a total of 928 rooms from Pandox. Four of the hotels are in Greater Copenhagen, while the fifth is in Kolding.

The hotel portfolio comprises Motel One Copenhagen, Scandic Sluseholmen, Scandic Hvidovre, Scandic Glostrup and Scandic Kolding, with a total lettable area of approximately 46,000 sqm. The hotels are fully let to Scandic and Motel One on long-term leases and cater to both leisure and business travellers.

Alma and Midstar will work with the hotel operators to further develop the properties through targeted investments. The investment is being made through Alma’s fourth diversified value-add real estate fund, Alma IV, with Midstar as co-investor and responsible for ongoing asset management.

Hüseyin Meric, Partner at Alma, comments:

“We see attractive opportunities in the Danish hotel market and are pleased to acquire a portfolio with strong exposure to Copenhagen with established operators such as Scandic and Motel One. The portfolio provides a solid foundation that we look forward to building on. Midstar’s extensive experience in hotel investment and development across the Nordics makes them a strong partner for us. We would also like to thank Pandox for a constructive and professional process.”

Peter Tengström, Partner and Managing Director at Midstar, adds:

“These five hotels fit naturally within Midstar’s investment and asset management strategy. Through active ownership and close collaboration with the operators, we see clear opportunities to further improve the assets, strengthen their market positioning, and create an even more compelling guest experience. Together with Alma, we look forward to getting started and further developing the portfolio in partnership with Scandic and Motel One.”

Alma and Midstar will pursue further hotel investments utilizing Alma’s Nordic real estate platform with Midstar’s specialist experience in the hotel sector.

Alma and Midstar have been advised by Bruun & Hjejle, Nordic Hotel Consulting, PwC and Niras.

Contacts

Alma Property Partners
Hüseyin Meric, Partner
hm@almaproperty.dk · +45 3165 0042

Midstar
Peter Tengström, Partner and Managing Director
peter.tengstrom@midstar.se · +46 70 300 38 20