The Blackstone Group, the New York-based private equity firm, has acquired seven Center Parcs holiday villages from Center Parcs Europe – a subsidiary of Paris-based Pierre & Vacances Group – for an undisclosed sum.
The villages – located in the Netherlands, Germany and Belgium – will be leased to Center Parcs Europe, which will continue to operate a total of 16 properties in Continental Europe. The transaction is expected to be completed before the end of this month.
Blackstone bought Center Parcs UK, a totally separate entity from Center Parcs Europe, for £205m (US$377m, 298m euro) in March this year. Details: www.blackstone.com
