Queensgate Completes Freehand Buy
Deal comes with $400M price tag
Queensgate Investments has acquired Freehand Hotels from a seller consortium including The Yucaipa Companies and Sydell Group for approximately $400 million.
Freehand Hotels is a United States-based lifestyle hotels brand, owner and operator of hotel assets with about 1,000 rooms across four hotels in Manhattan, Miami Beach, Downtown Los Angeles and Chicago. Included in the acquisition is the Broken Shaker bar concept. Generator, a Queensgate-owned company, will manage Freehand Hotels and retain the distinct identity of the Freehand and Generator brands. Queensgate Investments acquired Generator in 2017.
Queensgate Investments advises and manages around $3.8 billion worth of assets through the suite of Queensgate Investments Funds. Queensgate is a partnership between the Kow Family, Alvarium Investments and Peterson Group.
Photo, Freehand Hotel, Los Angeles – Rudolph’s Bar & Tea: Courtesy of Queensgate Investments