Fattal Group has acquired the four-star The Leonardo Hotel London Heathrow Airport from Aprirose for an undisclosed price.
The 230-bedroom hotel was bought by Aprirose in 2015 and was extensively refurbished in 2019.
Aprirose sold the asset to create liquidity for its investors to reinvest in its two key strategies of core income and asset management-led transactions.
Ari Boyd, CFO at Aprirose, said: “Selling the asset to the owners of our long-term tenant represented an ideal transaction for Aprirose, creating liquidity for our investors. It comes as we have been looking to redeploy capital into other sectors where we believe we can achieve enhanced returns. Investors are looking for both core income and asset management opportunities and we are working on a number of transactions currently via these two strategies.”
Chris Field, associate in the hotel brokerage team at Knight Frank, which advised Aprirose on the sale, added: “We are delighted to have advised Aprirose on this important sale that will help facilitate growth in the core business strategies the company is focusing on. Equally, we are a pleased to have concluded a successful sale with Fattal Group who have secured the freehold interest of this hotel which is in a vital location for their Leonardo brand adjacent to Heathrow International Airport.”
