KKR, a global investment firm, announces the purchase of the Radisson Blu Astrid Hotel and the Park Inn Hotel in Antwerp, Belgium, in a joint venture with Algonquin, one of Europe’s leading independent hotel groups.
Radisson Blu is a four-star hotel with 247 rooms, while Park Inn is a three-star boutique with 59 rooms. Both are situated on Astrid square, opposite Antwerp’s international Central Station.
Antwerp is a key tourist destination, with a diverse range of cultural attractions and leisure facilities. The city also has a large corporate market, with the second largest sea port in Europe, the second largest petrochemical cluster globally and the largest diamond trading hub in the world. In addition, the city is a growing destination for conferences and fairs, and is due to grow further with the planned opening of a conference center in 2017.
Since launching a dedicated real estate platform in 2011, KKR has committed over $2 bln (approx. €1.7 bln) to 50 real estate transactions in the U.S., Europe and Asia as of Q1 2015.