Starz Real Estate has financed the Qbic Hotels acquisition and repositioning of the Four Points Brussels. The investment amount was not disclosed. Qbic, advised by JLL Debt Advisory, will utilise the facility to convert the asset to the Qbic brand and add 20 additional rooms to the existing 128 keys. The hotel will be formally relaunched in September 2019 and the Brussels location will be Qbic’s second new site since an affiliate of Cerberus Capital Management acquired the business.
Limor Shilo, Head of Origination, Starz Real Estate, commented: “Qbic Brussels will occupy a highly prominent site near to the prestigious Avenue Louise in the heart of Brussels. The prime location and Qbic's differentiated product offering are a compelling combination and one that fits very well with Starz Real Estate. We are looking forward to working with the Qbic team on this and future acquisitions."
Paul Lewis, CFO at Qbic, added: “We are delighted to have completed this financing with Starz Real Estate. Their support gives us the opportunity to expand our eco-friendly, design-led and affordable brand proposition to another exciting location in the vibrant city of Brussels.”
Chris Gow, Managing Director, EMEA Debt Advisory at JLL, commented: “We were delighted to support Qbic and Cerberus on the next stage of their expansion across Europe. Starz Real Estate was pragmatic, proactive and commercial throughout the process and we are delighted to have closed the transaction with them.”
