Goldman Sachs, Avenue Capital and GoldenTree Asset Management have teamed up to buy a package of 144 Travelodges for £500m.
The Grove portfolio was purchased from Prestbury Investment Holdings, Tom Hunter’s West Coast Capital, the Reuben brothers’ Aldersgate Investments and Lloyds Bank.
Each partner has taken a 33% stake in the portfolio, which generates an annual rent of £35.5m. The package initially included 47 Spirit and 16 Orchid pubs, which have been sold separately to Cerberus Capital Management for £200m.
Joanna.Bourke@estatesgazette.com
