Blackstar appointed on first hospitality mandate as new platform launched
Blackstar Real Estate has launched a hospitality operating platform, marking the asset management firm’s expansion into the hotel and living sectors.
The group has been appointed by a private family office to oversee the management of Bacpac, a hostel in Hammersmith, West London. Blackstar’s new platform will look to provide operational and asset management services aimed at improving commercial performance, enhancing the guest experience, and delivering long-term asset value.
A spokesperson for the private office said: “We wanted a partner equally capable of managing the real estate and the operating business. Blackstar demonstrated a clear understanding of our investment objective and a practical, commercial approach that gave us confidence they are the right partner for this investment.”
Sabri Marsaoui, founder of Blackstar Real Estate, added: “The launch of our hospitality platform reflects the changing needs of real estate investors. In operational sectors such as hotels and living, value is created not only through the quality of the real estate but through the performance of the business occupying it. Our approach brings those disciplines together, enabling owners to maximise their investment returns.”
The Bacpac appointment is the first mandate for the new platform, which Blackstar said it intends to expand across the UK, working with institutional investors, family offices, and private capital on hospitality and living assets.
The launch of Blackstar’s hospitality platform comes after the firm was appointed as asset manager for a portfolio of three UK retail assets earlier this month.