Workman, has successfully supported Tristan Capital Partners’ European Property Investors Special Opportunities 6 (EPISO 6) in the acquisition of a 48-hotel portfolio across the UK and Europe.
EPISO 6’s acquisition of easyHotel represents a significant move in the current real estate investment landscape, with this transaction bringing its total committed hotel investments to in excess of €1 billion. Private equity firms are increasingly turning to hotels as an attractive alternative asset class, and Workman’s Building Consultancy team is increasingly supporting this sector.
Workman’s approach was highly tailored, delivering a focused strategic analysis and technical due diligence process in less than eight weeks. The team identified key risk areas, ultimately providing a comprehensive assessment of the portfolio’s condition and potential, and mitigation solutions. Drawing on expertise from across the firm within fire safety, environmental, and ESG, this project fully utilised Workman’s extensive experience in technical due diligence (TDD) to underpin commercial negotiations.
Having first reviewed vendor information and designed a process to report on risk and mitigation, the firm undertook TDD inspections and reports across all UK and Ireland assets, while also overseeing TDD for the EU-based assets. Meanwhile, the Workman team also coordinated and oversaw all UK and EU reporting, including input from external specialists.
Kristian Smyth, Managing Director at Tristan Capital Partners, said:
“The team at Workman have once again proven themselves sound strategic partners for institutional investors seeking to navigate complex property acquisitions and asset management strategies in a short timescale. We are delighted to have partnered with them; their flexible and focussed approach assisted us in securing this acquisition of 48 hotels across the UK and Europe.
“Tristan Funds have established a leading presence in the European budget hotel sector, with this transaction bringing the total committed hotel investments to in excess of €1 billion to date. The budget hotel sector forms a core part of Tristan’s European investment theses, reflecting the firm’s conviction in the long-term growth potential of this underrepresented sector.”
Richard Cooper, Partner at Workman, said:
“It’s been a pleasure to collaborate with Tristan through this latest acquisition process, resulting in the fund securing 48 hotels across the UK and Europe. As ever, we began with our clients’ business plan, paying close attention to their ambitions, and aligning our actions to deliver against their goals.
“In this case, Tristan’s acquisition highlights the shift towards more dynamic property sectors, with hotels offering flexible pricing models and significant potential for value enhancement.”
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