It forms a back-to-back deal for the hotel, which was acquired this summer by Apollo Global Management as part of a £1b portfolio from LRG Acquisition.
The high-rise hotel located on Cromwell Road spans 500,000 sq ft and is expected to benefit from Capital & Counties' £1.3b regeneration of Earls Court. The investment in the area will deliver 7,500 homes, a primary school, a leisure centre, health facilities, community and cultural spaces and 37 acres of green open space.
Earlier this year Queensgate completed the development of the 18-storey, 450-bedroom O2 Intercontinental hotel and conference centre on the Greenwich Peninsula. The private real estate manager has 34 properties within its portfolio, including the two hotels.
Queensgate Investments is a partnership between Jason Kow and multi-family office LJ Group. It advises and manages around £1.4b of assets.
Apollo has several central London hotels within its portfolio, including Holiday Inn Mayfair and Holiday Inn Regents Park. The portfolio comprises 22 Holiday Inn and Crowne Plaza hotels, totalling 59,000 rooms, and has an estimated turnover of around £200m.
Apollo bought the portfolio under a franchise agreement after an original management deal with InterContinental Hotels Group expired at the end of 2014. Redefine Hotels was later appointed to manage the properties.
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