Berlin-based NUMA Group has agreed to acquire United Kingdom-based lifestyle aparthotel and serviced-apartment brand company Native Places for an undisclosed price.
U.K. newspaper The Times reported the Native Places deal was valued at approximately €25 million ($27 million), according to Serviced Apartment News.
Native Places, a division of Native Holdings, has two brands — The Apartment Collection and Native Aparthotels — with a total portfolio of 800 rooms in Edinburgh, Glasgow, London and Manchester. The acquisition increases NUMA’s unit count to more than 7,300 in Europe.
On Nov. 28, NUMA acquired another serviced-apartment brand, YAYS, from private equity firm Proprium Capital Partners. That deal gave NUMA 489 rooms in assets in Belgium, France and The Netherlands and a pipeline of 124 rooms in Germany, The Netherlands and Spain.
The price was not disclosed for the YAYS deal either, but at that time NUMA said it had approximately €1.5 billion in real estate assets under management in 34 European cities in 14 countries.
The news release announcing the Native Places’ acquisition, eight months later, added NUMA had increased its holdings to a value of approximately €2 billion.
Native Places’ CEO Olivia Immesi will continue in her role as the brand joins NUMA.
“We aim to establish a leading position in the U.K.’s premier cities, with London being the No. 1 European hospitality market,” said Christian Gaiser, CEO and co-founder of NUMA Group. “Thanks to Native Places, we will gain access to a very strong brand recognized by leisure and business travelers.
Native Places’ portfolio includes the 162-room Native Manchester. The property is located in an 1867 building and was renovated in August 2018. The Native Manchester was last sold in November 2019 for £73.3 million ($93.9 million), or £452,747 per room, according to CoStar.