Exciting news from City Apartments Ltd!
After an extensive search to find the right buyer, we are thrilled to announce that City Apartments has been acquired by the Ando Living group!
The Ando Living group is a company and leadership team we have long admired and respected and operates two complementary brands: Ando Living, the first premium lifestyle serviced apartment brand in Europe, and LovelyStay, the number one short term rental platform in Portugal. The Group manages a portfolio of over 2,000+ apartments under these two brands, spanning Portugal, Turkey and Spain.
“We are delighted to be joining the Ando Living Group. This is undoubtedly a very exciting evolution for City Apartments, our wonderful team, and our valued corporate clients, who will directly benefit from the investment Ando Living Group plans for our apartments, along with plans to further grow our portfolio of buildings,” comments Matthew Cookson, CEO of City Apartments.
“We are thrilled to welcome and integrate the City Apartments team to Ando Living Group. With this acquisition we establish a powerful presence in the UK for our group. We are confident that our expertise and track record in the hospitality sector, combined with City Apartments’ know-how will drive success for both brands”, added Charles Wanecq, co-founder of Ando Living Group
Together with our team and our new owners, we look forward to building upon the excellent reputation we enjoy in the corporate accommodation market and remain 100% focused on our ethos: to always exceed expectations!
For further information please read the Press Release below.
ANDO LIVING GROUP ACQUIRES CITY APARTMENTS, A LONDON-BASED SERVICED APARTMENT OPERATOR, ACCELERATING ITS INTERNATIONAL EXPANSION WITH ADDITIONAL 208 UNITS ACROSS 8 BUILDINGS, LOCATED IN THE CITY OF LONDON.
City Apartments is a serviced apartment platform, operating 208 units in the City of London, serving international corporate clients. Ando Living Group’s portfolio will grow to 2,300 units in Europe.
Ando Living Group will build on City Apartments’ renowned guest-centric approach while rejuvenating the brand with cutting-edge technology, design and branding expertise.
The transaction was supported by CMS Cameron McKenna, Opus Corporate Finance LLP and Savills on the sell-side. Ernst & Young, Knights and Allsop on the buy-side.
London, 5 November, 2024: Ando Living Group, founded in 2015, is a serviced apartment hospitality operator and market leader in Portugal, with operations in Istanbul, Turkey and recently in Madrid, Spain.
The group propels its international expansion into the UK with the acquisition of City Apartments, a London-based serviced apartment operator. The transaction includes the acquisition of a freehold building with 32 units located on 68 Cannon Street, financed by Prima Europe Fund, an investment fund regulated by the market authorities of Portugal.
Clients can expect ‘business as usual’ along with exciting improvements in the coming months. City Apartments retains everything clients value, with continued leadership from CEO Matthew Cookson, COO Mark Winter, their team of 35 experts, with the addition of Ando Living Group’s expertise in technology, design and branding, enhancing operations and guest experience. The brand will be revitalised, further solidifying its strong reputation.
“We are delighted to be joining the Ando Living Group. This is undoubtedly a very exciting evolution for City Apartments, our wonderful team, and our valued corporate clients, who will directly benefit from the investment Ando Living Group plans for our apartments, along with plans to further grow our portfolio of buildings,” comments Matt Cookson, CEO of City Apartments.
“We are thrilled to welcome and integrate the City Apartments team to Ando Living Group. With this acquisition we establish a powerful presence in the UK for our group. We are confident that our expertise and track record in the hospitality sector, combined with City Apartments’ knowhow will drive success for both brands”, added Charles Wanecq, co-founder of Ando Living Group.
This strategic acquisition marks a significant acceleration in Ando Living Group’s international expansion. The group aims to expand to 6,000 apartments by 2028, becoming a leading premium hospitality group in Europe.
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About Ando Living Group:
Ando Living Group is a serviced apartment hospitality group based in Lisbon, Portugal, founded in 2015. The group operates 2,300 units live or under development in Portugal, Turkey, Spain and the UK, across its three complementary brands: City Apartments, focusing on corporate accommodation in London, Ando Living, the first lifestyle serviced apartment brand in Europe, and LovelyStay, the number one short-term rental platform in Portugal.
The group aims to be located in seven countries with 6,000 apartments by 2028, becoming a leading premium hospitality group in Europe.
Website: https://www.andoliving.com/
Website: https://www.lovelystay.com/about-us
About City Apartments:
City Apartments Ltd is a multi-award winning and leading serviced apartment company in the City of London, providing corporate accommodation for the world’s leading financial, legal, insurance and tech institutions.
Founded by Jono Dennis and David Smith in 1999, and led by CEO Matt Cookson and COO Mark Winter, the company specialises in looking after their corporate clients’ employees during their travels to London for transient travel assignments, relocations, or secondments. City Apartments operates across 8 buildings.
Website: https://cityaparts.com/
For further inquiries, media assets, or interviews, please contact: ando@wcommunications.co.uk