Global law firm White & Case LLP has advised a bank consortium on the €236 million financing of the acquisition of a hotel portfolio from Principal Real Estate Europe by Axa Investment Managers.
The portfolio includes a total of 11 hotels in five European countries with over 2,300 beds. The bank consortium consists of HSBC France S.A., HSBC Germany, Natixis, NATIXIS Pfandbriefbank AG and Société Générale S.A., Frankfurt Branch, each acting as Mandated Lead Arrangers, Underwriters and Bookrunners, with Société Générale S.A., Frankfurt Branch acting as Agent and NATIXIS Pfandbriefbank AG as Security Agent.
The transaction was completed with the acquisition of the last hotel in February 2020.
The White & Case team which advised on the transaction was led by partner Thomas Flatten, counsel Sascha H. Schmidt and local partner Sébastien Seele (all Frankfurt) and included partners Holger Wolf (Frankfurt) and Hadrien Servais (Brussels), counsel Alexander Born (Frankfurt), Aurélie Terlinden, and Guillaume Vico (both Brussels) and Laura Elbaze and Kevin Perraudin (both Paris).
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