Singapore-based Prima Asset Management has partnered with Australia’s largest private hotel investor, Schwartz Family Company, to accelerate its real estate expansion in London, Europe’s leading hotel investment destination. Schwartz Family Company will serve as a key investor in Prima’s London Paddington hotel redevelopment project and possibly other future ventures. This strategic collaboration marks a significant step in Prima’s UK expansion, bolstered by Schwartz Family Co’s extensive portfolio of 15 hotels and over 4,300 rooms across Australia.
Recognising the long-term value in London’s hospitality market, Dr Jerry Schwartz, Director of Schwartz Family Company, expressed a personal connection to the venture:
“Having been associated with Prima team for over two decades, continuously fostering a wonderful relationship, this investment is deeply meaningful as it reconnects me with the neighbourhood where I spent some of my early life. Prima’s vision for this project, along with future opportunities, aligns perfectly with my passion for creating sustainable, modern hospitality spaces.”
Ben Hall, CEO and Co-Founder of Prima, added:
“Our strategic focus on value-add opportunities in Central London is already yielding promising results. By combining our in-house expertise with high-value, industry-leading partnerships, we are positioned to deliver sustainable long-term returns through our regulated VCC Fund, managed by First Degree Global Asset Management.”
Industry Outlook & Future Expansion:
Building on this milestone, Prima expects to continue to capitalise on opportunities in Europe’s leading hotel market.
Michael Van den Brande, Senior Investment Manager at Prima, noted:
“With London recording €2.6 billion in hotel transactions in H1 2024, up 215% from H1 2023, the city remains Europe’s top hotel investment destination and with a robust pipeline of deals, we expect to close a further hotel acquisition by Q1 2025.”
Birbal Singh Bajaj, Co-Founder of Prima, further emphasised:
“Establishing strong partnerships and a presence in London underscores our growth strategy. We are excited about what the future holds as we expand and unlock more investment opportunities.”
Looking Ahead: Expanding in the UK:
As Prima continues its UK expansion, its investment strategy will focus on acquiring and transforming Central London hotels, including its London Paddington hotel redevelopment project. Supporting this strategy, Aurum Gravis has committed supporting Prima into both the firms hotel expansion and its targeted opportunities in the Purpose-Built Student Accommodation (PBSA) and Co-Living sectors in strategic locations across the UK, alongside Baksh Capital.
Prima is a Singapore-based private equity real estate firm focused on acquiring and transforming Central London hotels, as well as pursuing re-positioning and development opportunities in the Purpose-Built Student Accommodation (PBSA) and Co-Living sectors in strategic locations across the UK. By employing a disciplined investment approach, Prima focuses on delivering strong risk-adjusted returns through strategic asset management, development initiatives, and high-value partnerships. (primaam.com)
