First Sponsor acquires Utrecht hotel property for $40.8 mil

SINGAPORE (June 21): First Sponsor Group is acquiring the third to ninth floor of the Poortgebouw Hoog Catherijne, in Utrecht, the Netherlands, for 26.4 million euros ($40.8 million).

To be developed into two hotels totalling 320 rooms, Poortgebouw Hoog Catherijne is a newly constructed building with a total lettable floor area of 11,604 sqm. The hotels will be operated by Hampton by Hilton and Crowne Plaza or brands of a similar quality, according to First Sponsor.

Sited at Catharijne Esplanade 13, the property is connected to the Utrecht central station, the largest and busiest railway station which is also centrally located in the Netherlands.

---

Related Stories

• First Sponsor Group ups stake in Dutch property firm NSI for $26.6 mil
• First Sponsor Group consortium buys Sydney’s City Tattersalls Club’s property for A$24.7 mil
• First Sponsor Group to raise stake in Dutch property firm NSI for $62.5 million

---