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Capital Hill To Buy London Assets For £192M

Middle East investor Capital Hill Hotels is buying the Sanderson and St Martins Lane hotels for £192 million.

Middle East investor Capital Hill Hotels is buying the Sanderson and St Martins Lane hotels for £192 million, PropertyEU reports. The vendor of the two London hotels is Morgans Hotel Group (MHG), the operator and 50 percent owner of the joint venture that owns the two hotels.

U.S.-based Morgans will continue to operate the hotels under long-term management agreements. The terms of the agreements, including extension options, have been extended to 2041 from 2027. MHG is 50 percent owner of the hotels through a London joint venture with an affiliate of Walton Street Capital.

Click here for the story from PropertyEU.

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