Principal Equity Co-investments
On the principal equity investment side, since 2000, Mornington has structured and invested in approximately 24 special situation real estate and hotel investments through ten separate partnerships.
Some of Mornington’s current real estate private equity investments include the following:
Sample Transactions
Estonia – Retail shopping centre portfolio
Equity co-investment in an MBO arranged in 2003 by Mornington for Ober-Haus, one of the Baltic’s leading retail developers, leading to the creation of Capfield, a portfolio of retail shopping centres in Tallinn and Parnu. Since then, Mornington has successfully co-invested in 8 separate projects, exceeding €200million in investment value.
Asia & Worldwide – Hotels, Resorts and Spas
Equity co-investment into Six Senses Hotels and Resorts, a high end luxury resort, spa and lifestyle company based in Thailand with award-winning resorts and spas in the Maldives, Thailand, Vietnam, Europe and the Middle East.
Bulgaria – Residential Development
Equity co-investment alongside RREEF (principal real estate private equity arm of Deutsche Bank) for land acquisition and residential development in and around Sofia; in addition, equity co-investment into prime mixed use (office and residential) development site in Sofia with Bridgehead Capital Limited.
POLAND – New Europe Property Holdings (NEPH)
Equity co-investment alongside NEPH for four Polish retail and residential development and re-development projects in three major cities in Poland – Krakow, Gdansk and Elblag.
ST BARTHS – Luxury Hotel
Mornington arranged equity finance for and co-invested alongside existing ownership of a world-renowned, award-winning boutique deluxe resort in St Barths. The Isle de France has, since investment in 2006, increased in asset value by 50% as a result of active management, redevelopment and expansion.
CUBA – Resort Hotel
Coral Hospitality (Cuba, 2007) – Mornington, through some of its discretionary funds under management, provided mezzanine bridge financing as an interim measure whilst identifying and structuring an equity and debt solution for the borrower, a Cuban Hotel company, which continues to reposition the 4-star resort hotel with asset management input and active ongoing involvement from Mornington.