Carlyle Group divests itself of two London hotels for $335M

U.S. private-equity firm Carlyle Group has reportedly sold two properties in London for a reported £308 million or around US$335 million. Singapore-listed Hotel Properties Limited is said to have been the buyer of the two properties: Ludgate House and Sampson House.

A reported 5 percent was paid upfront and the remainder on completion of the deal, which is expected to be in May 2015, reports Arabia Business.

“The investment will allow the HPL Group to expand its property portfolio in Southbank, Central London by way of the acquisition of the Properties,” Hotel Properties said in a regulatory filing.

“The Southbank has historically been recognised as one of the central London’s leading cultural hubs, being home to the capital’s most famous institutions including the Royal Festival Hall, Tate Modern and National Theatre,” its regulatory filing added.