NUMA Group entered into a strategic partnership with LaSalle Investment Management to create a portfolio of 500 million euros of properties in the main cities of Western Europe.
The deal is part of LaSalle’s growing ‘Value-Add Investments’ line of business and will target properties in urban centres, with the companies saying it has already identified a pipeline of 15 assets in the UK, Spain, Italy and in the Netherlands.
Partners will acquire and renovate vacant and soon-to-be-vacant city hotels, serviced and extended-stay apartments, and boutique hotels, as well as non-institutional or unbranded landlord and owner-operator conversion projects .
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NUMA Group will then mine the properties using its technology system.
“This company exemplifies the growing symbiosis between technology and real estate. We are excited to help improve the urban hospitality experience for both short-stay and long-stay alongside a strong technology partner like NUMA,” said Michael Zerda, Head of Debt and Value Added Strategies to the room.
The companies say properties will be fitted with sustainable solutions such as hybrid ventilation and water recycling systems, with the aim of achieving zero-carbon status across the entire portfolio by 2050.
“Our clear goal is to make NUMA the leading solution provider for a whole new generation of hotels and short-term accommodation in Europe,” says Dimitri Chandogin, President of NUMA Group.
“NUMA’s strategic partnership with LaSalle is a further step in institutionalizing the alternative accommodation segment and providing a professional investment solution for the fragmented European hospitality market, particularly for owner-operators.”
Founded in 2019, NUMA Group raised $45 million in growth funding in February. In June 2021, it purchased Spain-based Friendly Rentals.