Starwood Capital Group Completes Sale of Ace Hotel London Shoreditch

Starwood Capital Group has completed, through a controlled affiliate, the sale of the Ace Hotel London Shoreditch to Limulus Ltd., which was advised by The Deerbrook Group. An affiliate of Starwood Capital Group originally purchased the property in June 2012 out of an administration led by Ireland’s National Asset Management Agency (NAMA). Following an extensive expansion and refurbishment and in a collaboration between the Starwood Design Group and Ace Hotels, the asset was converted to an Ace Hotel and reopened in September 2013. The hotel comprises 258 guestrooms, a lobby bar, a nightclub, a restaurant, a coffee shop, and three retail units. The property also features an events space on the seventh floor and an outdoor terrace, following the conversion of the former hotel restaurant and meeting space. Ace Hotel Group will continue to manage the hotel on behalf of the new ownership.

Advertisement