UK: European serviced apartment operator Ando Living Group has acquired London-based operator City Apartments, marking the group’s entry into the United Kingdom.
City Apartments is a serviced apartment platform, operating 208 units in the City of London for international corporate travellers.
The transaction also includes the acquisition of a freehold building with 32 units located on 68 Cannon Street, financed by Prima Europe Fund.
City Apartments will continue to operate “as usual” under guidance from CEO Matthew Cookson and COO Mark Winter.
Cookson said: “We are delighted to be joining the Ando Living Group. This is undoubtedly a very exciting evolution for City Apartments, our wonderful team, and our valued corporate clients, who will directly benefit from the investment plans for our apartments, along with plans to further grow our portfolio of buildings.”
Charles Wanecq, co-founder of Ando Living Group, added: “We are thrilled to welcome and integrate the City Apartments team to Ando Living Group. With this acquisition we establish a powerful presence in the UK for our group. We are confident that our expertise and track record in the hospitality sector, combined with City Apartments’ knowhow will drive success for both brands.”
Ando operates 2,300 units live or under development in Portugal, Turkey, Spain and now the UK, across three brands: City Apartments, which targets corporate accommodation in London; Ando Living, a lifestyle serviced apartment brand in Europe; and LovelyStay, a short-term rental platform in Portugal.
The group aims to expand to 6,000 apartments by 2028.
