L CATTERTON AND CEDAR CAPITAL PARTNERS ACQUIRE TWO HOTELS, IN PORTUGAL AND FRANCE

L Catterton Real Estate, the Paris-based real estate branch of the US private equity firm of the same name, in a joint venture with London-based real estate investment firm Cedar Capital Partners, has acquired two hotels in Europe. The properties are the five-star, 204-room Penha Longa Resort in Lisbon, Portugal, acquired from American private equity firm The Carlyle Group, and the four-star, 177-room Garden Beach Hotel in Antibes, France, acquired from American real estate developer The Chetrit Group. Penha Longa Resort is set within a 220-hectare estate in the Sintra-Cascais Natural Park, approximately 25 minutes drive from Lisbon Airport. The property includes six restaurants, a bar, a spa, and two championship golf courses, with the hotel operated under the Ritz-Carlton brand. The Garden Beach Hotel, located on the beachfront in Juan-les-Pins on the French Riviera, has been closed since 2020 and is planned for redevelopment into a luxury five-star hotel.