Starboard and LaSalle JV Buys Seven Accor Hotels in UK
Starboard Hotels and LaSalle Investment Management acquired a seven-hotel UK portfolio from Ares Real Estate Funds and EQ Group for an undisclosed sum in their first private equity joint venture deal. The 913-room portfolio in Birmingham, Sheffield, Luton, Southampton and London continues under existing Accor franchise agreements, with Starboard managing. The purchase expands Starboard’s UK presence to 28 hotels and includes its first Southampton site, completing Ares and EQ’s exit from an 18-asset portfolio.