Benson Elliot, a pan-European real estate private equity firm, and Walton Street Capital, a privately held real estate investment firm, formed a joint venture. Benson Elliot and Walton Street Capita completed the acquisition of a pan-European hotel portfolio comprising of eight prime hotels in seven major cities across five countries, the Prime Europe Hotels, for approximately €420 million. “This Portfolio represents a high-quality collection of full-service branded assets that is being acquired at both an attractive yield and significant discount to replacement cost, at what we believe is an opportunistic point in the investment cycle. We are excited about this transaction and look forward to working with our JV partners, Benson Elliot and Algonquin, to maximize value, "Robert Bloom, Walton Street Capital Senior Principal.