Alma and Midstar Acquire Five Danish Hotels for $179 Million
Alma Property Partners and Midstar have agreed to acquire a portfolio of five Danish hotels comprising 928 rooms from Pandox for DKK 1.155 billion, or $179 million.
Alma Property Partners and Midstar have agreed to acquire a portfolio of five Danish hotels comprising 928 rooms from Pandox for DKK 1.155 billion, equivalent to $179 million.
The portfolio spans approximately 495,000 square feet and includes Motel One Copenhagen, Scandic Sluseholmen, Scandic Hvidovre, Scandic Glostrup, and Scandic Kolding.
All hotels are fully leased to Scandic and Motel One under long-term lease agreements, providing the buyers with a stable revenue stream from the portfolio.
The transaction is part of a broader divestment by Pandox involving seven hotels in Denmark and Sweden, signaling a larger portfolio restructuring by the real estate company in the region.
What do these terms mean?
Hotel portfolio: A collection of hotels owned or managed by a single investor.
Long-term lease: A lease agreement spanning several years that guarantees the owner a regular income from the tenant.
Danish krone: The official currency of Denmark, commonly abbreviated as DKK.
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