Opportunistic New York investor Angelo, Gordon & Co is planning to invest more than £125m in developing at least six telehotels across Europe.
It is understood that sites in London, Paris, Amsterdam and the major German cities have already been targeted.
Keith Barket, managing director of Angelo, Gordon & Co said: “We’re not the first to do that, but a lot of European landlords have been sceptical of telecoms and, as a result, have not taken buildings and converted them for that purpose only.”
The investment company is aiming to team up with local developers to build high-specification telehotels and then sell them to operators.
It predicts that it will spend £20-£30m on each building over the next year.
Veteran US property investor Arthur Solomon, who is building up a $1bn property fund, is also said to be looking for technology-related opportunities in Europe.
