Castlelake Acquires Stake in Spanish Hospitality Platform Millenium Hotels Real Estate.

MANews-(C)2009-2021

Certain of US-based alternative investment manager Castlelake, L.P.'s funds will acquire up to 49.9% of the shares of real estate investment company Millenium Hotels Real Estate(BME: MHRE), which specializes in luxury hotel properties in Spain and Portugal, the company said.

Through the transaction, Castlelake will become the primary shareholder of the company and have three seats on its board of directors.

Castlelake's investment in MHRE builds on the firm's history of investing in Europe, where it has acquired more than 7,000 assets across 12 European countries since its founding in 2005.

Castlelake's experience investing in Spanish land and real estate includes the acquisition of fully-permitted land following the global financial crisis and later establishment of Aedas Homes, which is now one of the largest Spanish housebuilders with nearly 2,000 units delivered in FY21.

The Millenium portfolio is currently comprised...

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