The Lloyd Hotel in the Eastern Docklands of Amsterdam, owned by private investor Rocco Veenboer, has been sold to a consortium led by Cedar Capital Partners for €45m. The 120-room hotel comprises c.8,300m² and considered to be a national monument. The property is easily accessible by private and public transport and enjoys close proximity to Central Station.
A unique historic building, designed by Evert Breman, originally opened in 1921 and primarily served as a hotel for emigrants. Following the bankruptcy in 1935, the scheme was taken into use by the Municipality of Amsterdam. Leading up to re-opening in 2004, it was used as a shelter for refugees, a German prison, house of detention (for adults and later also for minors) and artists studios.
The seller has been advised by Cushman & Wakefield and DLA Piper. The consortium led by Cedar Capital Partners was legally assisted by Loyens & Loeff. The sale was realised through the disposal of the shares in the opco/propco structure. Cushman & Wakefield advised seller on the acquisition of the hotel in 2016 which was followed by the acquisition of the operating company a year later.