London-based property investor Henderson Park has completed the 550 million euros ($638.4 million) purchase of Westin Paris-Vendôme hotel from GIC Private Limited, Singaporean sovereign wealth fund.
The 428-room Westin Paris-Vendôme occupies a large island site across a full city square block in Paris’ 1st arrondissement, one of the City’s most prestigious areas.
As part of the transaction, Henderson Park has secured a senior financing package from French investment bank Crédit Agricole Corporate and Investment Bank CACIB.
Henderson Park has also confirmed with U.S. hospitality company Marriott International that the hotel will continue to operate under the Westin brand.