Avignon Capital successfully disposes of Staybridge Suites, The Hague
In 2018, Avignon acquired an off-market commercial office building of about 6,500 m². The building, located in a prime spot opposite the Dutch National Parliament, was being converted into a 101-key serviced apartment hotel. The hotel features various amenities, including a gym, shared lounge, meeting rooms, a laundry room, a lobby restaurant, and 37 underground parking spaces. It is operated by the Borealis Group.
Avignon saw the opportunity to acquire the property upon the completion of its conversion, recognizing the strong market for business travellers visiting the parliamentary buildings and 150 international organizations in The Hague. The asset reached practical completion in 2018 and is operated under the globally recognised Staybridge Suites brand, owned by Intercontinental Hotel Group. In line with the initial business plan, the asset has been sold to a foreign private investment vehicle.
Savills and Loyens & Loeff acted for Avignon Capital during this transaction.
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