UK: LaSalle Investment Management, a global real estate investment manager, is launching a €500m pan-European urban hotel aggregation strategy via a strategic partnership with NUMA Group, a European digital hotel operator and technology developer.
The aim of the partnership is to acquire, refurbish and operate vacant city centre hotels, serviced and extended stay apartments, boutique hotels, as well as conversion projects in urban locations across western Europe.
Properties in the pipeline include 15 across the UK, Spain, Italy, and the Netherlands representing over €450m in value. Refurbishments of the properties are expected to take 6-18 months.
Under the strategic partnership, targeted properties will be designed, managed, and operated by Berlin-based NUMA Group, which currently operates more than 2,700 units in Berlin, Munich, Rome, Milan, Madrid, Barcelona, and Vienna.
NUMA uses proprietary technology-based operating solutions that largely automate operations. It describes itself as providing “disruptive design hotels for modern travellers”.
Michael Zerda, head of debt and value-add strategies at LaSalle said: “This venture exemplifies the growing symbiosis between technology and real estate. We are excited to help improve the urban short stay, long stay hospitality experience alongside a strong tech partner like NUMA.”
The new hotels in the expanding portfolio will offer rooms and apartments for short, medium, and long stay guests.
Dimitri Chandogin, president, NUMA Group added: “NUMA’s strategic partnership with LaSalle is another milestone in institutionalising the alternative accommodation segment and offering a professional investment solution for the fragmented European hospitality market, especially for owner operators.”
LaSalle and NUMA Group also aim to integrate sustainability standards, including hybrid ventilation and water recycling strategies, in a bid to achieve net-zero carbon status across their portfolio by 2050.
NUMA was recently in the news for raising $45 million in funding round led by DN Capital.
