Landmark Property Management SA and Toros Capital Partners Ltd have announced that Landmark Property Management has acquired Nesli Han in Beyoglu, Turkey. The transaction is a sale and lease back of a modern university residence with one of Turkey's most prestigious private universities.
The property consists of approximately 9,500 m² containing 118 rooms which currently accommodate visiting faculty and students. The complex is composed of two attached and a third stand alone building which were fully renovated in 2005.
The property is located in the Tophane neighbourhood in Beyoglu, next to the rapidly redeveloping Galataport area overlooking the Bosporus in central Istanbul.
Landmark has the option to reposition the property at the end of the lease into residential or hotel use. Toros Capital Partners initiated the transaction and acted as financial advisor to and assisted with the negotiations as the representative of Landmark Property Management SA.