Aware Super becomes majority shareholder in hotel group The July
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The news: Superannuation giant Aware Super has become the majority shareholder in apartment-hotel owner and operator The July.
The numbers: Together with its existing stake, which it acquired in July 2020, Aware Super now owns the majority of the business.
The investment is part of Aware Super’s commitment to invest £5.25 billion ($10.9 billion) in the UK and continental Europe over five years from the opening of its London office in November 2023.
The context: Aware Super's overseas investment drive — targeted at real estate, infrastructure and private equity — is aimed at capturing emerging opportunities in the property market.
The July currently operates three apartment-hotels in Amsterdam, each one featuring food and drink outlets also owned by the group.
The company recently opened its first site in London and is in the process of developing three additional locations in Amsterdam, Dublin and Lisbon.
What they said: "The strong performance of the business since we first acquired a stake in 2020 gives us great confidence in its future, and we are confident this investment will be a strong addition to our portfolio, which will look to deliver robust returns for our 1.2 million members in Australia," said Mathieu Elshout, senior portfolio manager at Aware Super.
The July co-founder and CEO Alex Goad commented: "Aware Super has been a supportive partner for five years, and we look forward to collaborating still further as we take The July to the next level".
The source: Aware Super media release
