An affiliate of the Qatar Armed Forces Investment Portfolio (QAFIP) has acquired the Pullman La Defense Paris from global investment manager, Invesco Real Estate, acting on behalf of one of its dedicated hotel funds. Accor will continue to operate the hotel under a long-term lease agreement.
A purchase price for the 382-room hotel was not disclosed. The hotel is reportedly the largest luxury hotel in La Defense, the financial center of Paris. Having acquired the hotel in 2010, Invesco Real Estate undertook a major renovation of its guestrooms and public areas, which was completed in 2013.
HVS Hodges Ward Elliott represented Invesco Real Estate on the transaction.