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Goldman Sachs buys The Belfry

Goldman Sachs buys The Belfry

Goldman Sachs buys The Belfry

Well-known golf course and resort resort The Belfry has been bought.

Goldman Sachs Asset Administration and Cedar Capital Companions have teamed as much as purchase the positioning close to Sutton Coldfield from KSL Capital Companions in an undisclosed deal.

The Belfry has three 18-hole golf programs and has hosted the Ryder Cup 4 instances – greater than every other venue.

The resort additionally includes 320 resort rooms, 5 eating places, a spa and different leisure facilities unfold throughout 550 acres.

The brand new homeowners stated they have been planning to hold out improve work to the positioning however haven’t revealed any additional particulars as but.

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KSL Capital Companions had beforehand outlined a number of regeneration plans together with a brand new indoor pool, water park and extra resort rooms on the positioning of the Bel Air nightclub however to this point these haven’t come to fruition.

Nabil Aquedim, government director of actual property at Goldman Sachs Asset Administration, stated: “We’re delighted to be partnering with Cedar for this acquisition of a famend resort and golf resort which we plan to renovate and prolong over the approaching years.

“This funding aligns with our technique of buying high-quality property which are properly positioned to learn from post-covid hospitality and leisure tendencies.

“We sit up for working with Cedar and the resort’s administration workforce to construct on the Belfry’s robust repute as a golf resort and improve the leisure providing.”

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Phil Golding, accomplice at Cedar Capital, added: “We sit up for working with the resort’s administration workforce to construct on the Belfry’s storied historical past and, alongside our companions at Goldman Sachs, we’re proud to be the following custodians of this iconic resort.”

Raphael Bihler, vice-president at KSL Capital Companions, stated: “We’re very proud to have owned the resort for nearly ten years, throughout which era we accomplished a considerable renovation and repositioning, and developed an excellent working workforce.

“By a number of European PGA Tour occasions, numerous company features and lots of blissful social occasions, we’re assured that The Belfry has returned to its rightful place as the highest resort within the UK.

“We’re happy to depart the resort in such secure fingers and want to thank the numerous members of the administration workforce who’ve made our possession interval so pleasing.”

Advisers on the deal have been Jones Day, Alvarez & Marsal, Deloitte, CBRE, Dentons, Savills, Clifford Likelihood and Chook & Chook.

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