Kasada completes the sale of Ibis Douala in Cameroon
Kasada originally acquired this non-core property as part of an eight-hotel portfolio transaction in 2021.
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Kasada, an Africa-focused real estate private equity platform, has announced the sale of the Ibis Douala, located in Bonanjo, a key business district of the city of Douala in Cameroon, to Christina Hotel, part of the Bocom Group.
Kasada originally acquired this non-core property as part of an eight-hotel portfolio transaction in 2021, which was one of the largest cross-border hospitality transactions in Africa at the time.
As part of Kasada’ active portfolio management strategy, this hotel was not a long-term strategic asset for Kasada.
The 160-key hotel was originally opened in 1985 and comprises a restaurant, bar, outdoor pool, and several meeting rooms.
Terms of the transaction were not disclosed.
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