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DEALS - OPERACIONES

published APRIL 15, 2010
SJ Berwin Advises Invesco Real Estate Hotel Fund on the acquisition of five hotels from Accor SA for €154 million

International law firm SJ Berwin’s real estate department has advised the European hotel fund of Invesco Real Estate, the global real estate investment management firm, on the acquisition and leaseback of five hotels in Germany, France, Italy and Bratislava for €154m. The vendor was Accor, the hotel group and the purchase of the hotels (representing a total of more than 1,100 rooms) is in line with Invesco’s hotel fund’s investment strategy of expanding its diversified pan-European portfolio by acquiring leased 3* to 4* hotels in major European cities.
The acquisition of the Pullman Paris La Defense, the Novotel Munich City, the Mercure Corso Roma Trieste, the Novotel Roma La Rustica and the Mercure Zabatova (currently under construction in Bratislavia) brings the total number of hotel acquisitions by the hotel fund to seventeen and involved both direct real estate and corporate acquisition structures in a number of jurisdictions.
The cross border nature of the multiple hotel acquisitions highlights SJ Berwin’s European capabilities as SJ Berwin’s UK, German, French and Italian offices all advised on the transaction. The SJ Berwin team was led by corporate real estate partner and hotel specialist David Ryland, working with a strong team including Hans Thomas Kessler and Michael Cziesla from our German offices, Vincent Lassalle and Ann Ly Ky from the French office and Mario Botte from the Italian office.
The acquisitions form part of SJ Berwin's work in advising Invesco on the establishment and closing of the European hotel fund and its subsequent European hotel acquisition programme. SJ Berwin has a focused hotel group and acts for a wide range of leading hotel operators, developers, investors and financiers both in Europe and internationally. The firm advises on the full spectrum of legal and commercial issues affecting the hotels sector and has continually been ranked as a leading hotel firm in the top tier by Chambers UK guide for the last nine years and has been in the top category of firms for “hotels” in the four most recent editions of Legal 500.
 


 

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