BlackRock just checked into the European hostel business. The institutional investor acquired a 100 million pound pan-European hostel portfolio through a joint venture with operator Amistat International, IPE Real Assets reported. That’s roughly $127 million. “This transaction represents an opportunity to gain early-mover access into an increasingly institutional but undersupplied asset class,” said Thomas Mueller, BlackRock’s European head of value-added real estate. “The demand profile for hostels is particularly appealing given the lack of modern, […]
source https://therealdeal.com/national/2019/06/09/blackrock-scoops-up-european-hostel-portfolio-for-127m/#new_tab
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