Starwood Capital Group, a leading global private investment firm, announced today that a controlled affiliate has acquired a portfolio of four extended-stay hotels and one residential complex in London for £206 million ($312 million). The hotel properties are located in two of London’s top emerging submarkets: Tower Bridge/Bermondsey and Earls Court/Kensington. The hotels, which were constructed in 2008, will comprise nearly 650 units upon completion. The units feature apartment-like amenities including full kitchenettes, living and dining rooms, and washer/dryers. In addition, the hotels will offer over 25,000 square feet of commercial and office space, including many new guest amenities such as social lobbies, lounges and gyms.

Starwood Capital Group purchased the portfolio following completion of an administration and company voluntary arrangement process led by Ireland’s National Asset Management Agency (NAMA) and Duff & Phelps. Starwood Capital Group in August 2013 acquired a non-performing loan portfolio from NAMA secured by 39 properties, with a concentration in Dublin.

Go Native Serviced Apartments, the largest operator of Serviced Apartments in the UK, have been retained for the foreseeable future as the managers of the four buildings on behalf of Starwood Capital and all bookings and enquiries should continue to be directed to Go Native’s reservation teams.

About Go Native

Go Native is the largest operator of serviced apartments in the UK with over 1,300 units across 29 locations in London. It also provides travellers access to a comprehensive network of over 28,000 serviced apartments globally, all available on a flexible basis. Whether guests are staying for a night, a month or a year, a Go Native apartment offers value quality, privacy and independence. Go Native offers the widest range of all inclusive, ready-to-live apartments that put guests at the heart of the city the minute they arrive – giving them the freedom to make the most of their stay.