UK: SACO The Serviced Apartment Company has recruited a team of four property development managers.
The team joined SACO from Union Hanover, a real estate
investment and development company, which launched the Urban Villa aparthotel brand.
The team is London-based and includes Eric Jafari, who has become SACO's managing director of development, Andrew Fowler (acquisitions director), Merzak Kaddour (head of development financing), and Charles Cresser (development director).
Stephen Hanton, CEO commercial of SACO, said: "SACO is set for major growth over the next two years with new properties opening across the UK, Ireland and mainland Europe, and the welcome arrival of the new team gives us the additional expert resources to sustain this fast pace of expansion."
Former SACO CEO of property Max Thorne remains a shareholder and
senior advisor to the company, while former chief development
officer Simon Scott is no longer at SACO.
SACO's latest aparthotel will open in the first quarter of 2016 at Cannon Street in London. There will be 77 apartments, an on-site gym and a communal area. Further aparthotels are due to open in Edinburgh, Dublin, Aberdeen, Glasgow and Amsterdam from late 2016.