A real estate platform focused on the development and conceptualisation of lifestyle aparthotels has been launched.
Founded by Eric Jafari, the former co-founder & chief development officer of Brookfield-backed Edyn and Edyn’s former head of UK & Ireland acquisitions Chris Strong, Aendre Group has launched with backing from newly formed private equity firm JuneX Capital Partners and co-investor New End.
The platform has been established to convert office buildings and hotels in London and European gateway cities into lifestyle extended stay hotels.
This comes as office to hotel conversions continue to grow in popularity. CoStar recently revealed that more than 25 per cent of office sales over the past year have been from developers looking to convert office buildings into hotels. Last year, STR found that by 2025, lifestyle hotels are expected to make up 23 per cent of the hotel development pipeline.
JuneX Capital Partners recently launched a €100m evergreen fund to invest in entrepreneurs in Europe.
What they said
Eric Jafari, founder & managing director of Aendre said: “We intend on taking our experience and learnings to capitalise on the current market conditions and launch Aendre in response to evolving consumer needs that are not being met by existing brands. We have identified a number of gaps in the market and intend on creating a series of new scalable hospitality brands and are privileged to have the backing from New End and JuneX Capital Partners to do so.”
Chris Strong, co-founder of Aendre added: “Our mission is to transition carbon inefficient office buildings into green destination properties that foster communal belonging. We seek to create spaces that attract locals and travellers with an opportunity to experience a better way of life. Coincidentally, these office conversions uniquely lend themselves to lifestyle extended stay, due to their high-quality locations and relatively deep floor plates, which are challenging for traditional hotel layouts.”