Zug, Switzerland-based Limestone Capital had an active day on Thursday, acquiring a property in London and investing more than €100 million in a European-based hotel company.
Limestone, which also has offices in London and Lisbon, acquired the 164-room Nobu Hotel London Shoreditch for an undisclosed price, according to a news release.
The release did not state the terms of the deal, but according to CoStar data, Tel Aviv-based Electra Real Estate was the previous owner.
Electra acquired the hotel in March 2022 for £69.9 million ($88.2 million), according to additional CoStar data, in a transaction with owner LaSalle Investment Trust.
Executives at Limestone are bullish on the acquisition.
Benjamin Habbel, co-founder and CEO, said the “acquisition underscores our confidence in the resilience of the London hospitality market." Jeff Coe, co-founder and general partner, added, “this property represents an attractive opportunity in a highly sought-after location. Our focus remains on acquiring prime real estate assets to enhance their performance and long-term value.”
According to Limestone, it has hotels in France, Italy, Spain and Portugal, but the Nobu Hotel London Shoreditch is to be its debut hotel asset in the United Kingdom.
Also on Feb. 20, Limestone committed to an investment of “over €100 million” ($104.5 million) in pan-European hotel firm Loisium Wine & Spa Hotels.
Habbel and Coe said the €100-million investment in Loisium marks a significant step in the brand’s expansion across Europe.
They added that over the next 12 months, the Langenlois, Austria-brand is set to open four hotels in Italy and France that will be backed by this capital injection from Limestone.
Currently, Loisium has three hotels, one in France, the 101-room Loisium Wine & Spa Hotel Champagne, and two in Austria, the 102-room Loisium Wine & Spa Resort Südsteiermark and, its debut hotel, the 112-room Loisium Wine & Spa Hotel Langenlois.