Permira to sell Principal property
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Permira, the private equity group, has reportedly put the real estate assets of its recent acquistion, Principal Hotels, on the market for £265m on a sale and leaseback basis.
Permira bought Principal from Royal Bank of Scotland in September for around £315m. Principal Hotels is four-star chain with six properties in its portfolio including The Russell in London.
CB Richard Ellis Hotels is handling the sale for Permira.
Photograph: The Russell hotel in London. Copyright 2005
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Permira, the private equity group, has reportedly put the real estate assets of its recent acquistion, Principal Hotels, on the market for £265m on a sale and leaseback basis.
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