QUEENSGATE TO ACQUIRE GENERATOR HOSTELS
Property investment firm Queensgate Investments is to acquire the Generator Hostels chain from Patron Capital and its co-investment partner, Invesco Real Estate, for approximately €450 million. Generator Hostels comprises 12 operational freehold properties and a further two under development (8,639 beds) in London, other European cities and Miami in the USA. Queensgate now plans to invest more than €300 million in expanding the Generator business. The deal is expected to close in May.