Fund Buys Interest in London Hotel

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Quintain Estate & Development has sold its 50 percent interest in the Hilton Wembley Hotel in London for £30.1 million to a fund managed by Oaktree Capital Management.

The 361-room, four-star hotel opened in July 2012 next to Wembley Stadium and Wembley Arena. The hotel includes the Icons bar, based on famous sports stars, and conferencing and events space with capacity for up to 700 guests, according to a release.

The London Designer Outlet, the first major retail outlet center in London, will open next to the hotel later this year.

Internos Global Investors advised Quintain on the sale and assisted Quintain as the asset manager in 2012 before and after the hotel opened.