![]() The emphasis is on maximising the use of space and the experience of guests, Foortse says.Ĭity ID is also breaking new ground in Europe with ‘aparthotels’ for longer-stay visitors. ![]() The Social Hub is a hybrid model, incorporating student accommodation, hotel and co-working. “We see megatrends driving the travel and accommodation industry – whether it is the emerging middle class, people travelling for experience or the change in customer base – with Millennials and Gen Z surpassing Gen X and baby boomers,” says Foortse. The chain now has a €500m expansion plan to build more properties across key European cities. In 2021, it brought in Australian superannuation fund Aware Super to co-invest in the City ID chain.ĪPG first bought a stake in City ID in 2019. Last year APG took a cornerstone investment in Azora European Hotel Fund, which raised €815m. Currently, it operates 15 hotels, with three new properties opening this year in Madrid, Barcelona and Toulouse. With this capital, The Social Hub is poised to more than double its number of hotels, taking the portfolio to 50 properties. In June, APG and GIC acquired substantial stakes in The Student Hotel, which rebranded as The Social Hub in October. Its total hotel investments amount to €2.7bn which, apart from the three chains mentioned, includes City ID, The Other House and the Azora hotel fund in Europe, as well as private investments in hotels and hotel chains in Brazil and India. Hotels represent about 10% of APG’s real estate portfolio in Europe, and approximately 5% of its global property portfolio, valued at around €55bn. Today it operates 29 hotels – 16 in Europe, 11 in the US and two in Asia-Pacific, and it has a further 12 hotels under development. In the 2019 transaction, the shareholders collectively injected €750m to grow the brand. APG had backed the founder, Rattan Chadha and his family company, KRC Capital, in establishing the brand in 2007-08. In 2019, APG brought GIC into CitizenM, a boutique hotel chain aimed at short-stay business travellers. Archer Hotel Capital has committed to work with Marriott International on a growth plan over this decade.įoortse says APG’s partnership with GIC has expanded to include joint interests in other hotel chains, such as CitizenM and The Social Hub, both based in Amsterdam. In 2018, APG and GIC bought out Host’s interest in their joint venture, establishing Archer Hotel Capital to grow the number of hotels under APG/GIC ownership in Europe.Īrcher Hotel Capital today operates almost 4,000 rooms in 11 hotels, including the Madrid Edition in Spain, acquired last December. In the years since then, APG’s hotel businesses have evolved, added new brands and expanded. Six of those hotels were located in Europe and Host set up a joint venture with us and GIC to acquire them.” “Host acquired a large portfolio of 40 hotels from Starwood. Robert-Jan Foortse, head of European property investments at APG, recalls the first transaction. It was instrumental in the Dutch pension provider establishing a firm footing across the dynamic hotel industry. The transaction forged a close partnership with GIC, which continues until this day. The sought after Fairmont Hill Community offers swimming pools, playground, tot lot, volleyball and racquetball courts, and is a part of the acclaimed Placentia-Yorba Linda School District.A joint venture in 2006 with Singapore’s sovereign wealth fund GIC and US-based Host Hotels and Resorts to buy six properties in Europe from Starwood marked APG’s re-entry into the hospitality sector in Europe. Extra parking is available on the street. The 1 car garage is directly below the unit, and there is also 1 assigned parking space. The large patio is fenced and perfect for relaxing. The home includes a smart thermostat and Ring doorbell. The laundry room is inside the unit and includes the washer and dryer. The bedrooms are well sized and comfortable. The guest bathroom has a rain shower and large soaking tub. Your master suite has a private full bathroom with a sit-in shower and a walk in closet. The custom kitchen cabinets are complemented by tile accents and stainless steel appliances. Enter the open living area and notice the crown molding and high baseboards. ![]() The home features Designer paint throughout with recessed lighting and vinyl flooring. Welcome Home! Completely Renovated in 2019, this upstairs condo is packed with upgrades and quality finishes. ![]()
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