Paris, June 29, 2021 – Atream, an independent asset management firm specialized in real estate funds and private equity, has acquired the walls of a budget hotel located in Zaandam, in the northern suburbs of Amsterdam, for the REIT (SCPI) Atream Hôtels, the first such fund entirely devoted to hotel real estate. The hotel will be renovated and rebranded by the French group B&B HOTELS, which has purchased the business and FF&E.
Located in the town of Zaandam, north of downtown Amsterdam, this B&B hotel offers quick access to Schiphol Airport, the Zaanse Schans tourism region, and the country’s highway and train networks. It enjoys a strategic location bolstered by growing numbers of companies in the town as well as by the recreational opportunities Zaandam has to offer (e.g. museums and Gouda manufacturers). The Amsterdam subway may even be extended to Zaandam in coming years, making the site even more desirable.
The acquisition of this asset includes a 20-year lease to the B&B HOTELS group, one of the biggest names in budget hotels and the fastest growing company in its segment. The acquisition of the business and FF&E at the Zaandam site will be the first Dutch location for B&B HOTELS, which currently holds 5670 hotels (including 305 in France and 143 in Germany) and is developing many more.
The Zaandam hotel had 93 rooms and 56 parking places. The project includes the forcasted renovation of all rooms and bathrooms as well as shared areas and the roll out of B&B’s concept (open-space lobby, bar and snack bar, etc.)
This new acquisition confirms the growth of the REIT (SCPI) Atream Hôtels, the first SCPI entirely devoted to tourism real estate in Europe. It illustrates Atream’s investment strategy, which focuses on the walls of tourism residences managed by solid operators via long-term leases and located within dynamic ecosystems in the Euro zone (particularly in northern Europe).
“This new acquisition is perfectly in line with the strategy we have outlined for the REIT (SCPI) Atream Hôtels and strengthens its portfolio of tourism residence assets by maintaining a balance between leisure and business travel. Following our acquisition of B&B hotels Stuttgart-Airport/Messe in 2020, we are pleased to have concluded this second operation with the respected B&B HOTELS group, which manages more than 560 hotels worldwide. This operation provides our clients with a long-term investment solution and consolidates our footprint in northern Europe.” Pascal Savary, Chairman of Atream.
Founded in 2008, Atream is an independent asset management firm specialized in real estate funds (OPCI, SCPI and FIA) and private equity. Thanks to a team of over 55 experts in real estate investment and private equity, Atream identifies and develops tailored solutions for institutional investors and collective investment solutions for private investors. Over the past 13 years, Atream has developed recognized expertise in tourism sector assets by supporting major operators such as Accor, Mama Shelter, Pierre & Vacances, Center Parcs and Club Med. In 2011, Atream began diversifying its offering to include investments in the service, residential and growing vineyard sectors. Atream manages nearly €4 billion in assets via 300 sites located in four European countries (France, Germany, the Netherlands and Belgium). Atream accredited by the AMF and AIFM for real estate portfolio management and capital investment and is a member of ASPIM (French Association of Real Estate Investors). Website: http://www.atream.com/
Atream press contacts – Agence LEON
Océane Fieu – Fiona Thomas
06 79 58 01 81 – 06 61 73 98 18