Westbrooke Alternative Asset Management UK Limited (“Westbrooke UK”) and partners Song Capital (“Song”) are pleased to announce the c.€100m acquisition of a newly constructed 340-key aparthotel (the “Property”) in central Dublin.
The Property is let to StayCity, a Dublin-based Pan-European aparthotel operator with 23 sites across Europe and the UK. Staycity is backed by the Irish Strategic Investment Fund, a sovereign development fund managed by Ireland’s National Treasury Management Agency.
Westbrooke UK provided financing to support Song’s acquisition of the Property from Bain Capital.
James Lightbody of Westbrooke UK commented: “We are delighted to support Song with the financing of another high caliber transaction. StayCity have a strong track record as operators in this space and we look forward to seeing them trade at this site, especially in the locality where there is a clear undersupply of aparthotel assets.”
Song’s Dan MacKinnon added: “We are grateful for Westbrooke UK’s support on this transaction and look forward to working together as we deliver on the business plan.”
About Song Capital
Song Capital Partners is a UK & European investment firm founded by Dan MacKinnon and Tom Pritchard. The Song Capital team focus on asset-backed investments and have direct principal experience across multiple asset classes, jurisdictions, and investment strategies including operational real estate, growth capital and special situations.