FIRST SPONSOR AND PARTNERS ACQUIRE ANDAZ AMSTERDAM FROM INVESCO

Singapore-based investor and developer First Sponsor Group Limited, together with a consortium of investors, has acquired the five-star, 122-room Andaz Amsterdam Prinsengracht in the Netherlands from global investment manager Invesco Real Estate’s European Hotel Fund (EHF) for €93.5m (€766,000 per room). The property is located in Amsterdam’s historic canal belt near the Nine Streets district and Dam Square, and includes 1,374 sqm of leased office space. The hotel includes a restaurant, bar and seven meeting rooms, and is operated by Hyatt Hotels under a long-term lease agreement until 2042. First Sponsor holds a 33% equity interest in the acquisition.