Wednesday, April 17, 2024

Baker, Garrigues advise on Alantra´s €18.5m refinancing of Boho Club hotel Marbella

Baker McKenzie has advised Alantra´s Alteralia Real Estate Debt FIL on the €18.5 million refinancing of the luxury boutique hotel Boho Club Marbella, owned by Swedish company Quartiers Properties AB, represented by Garrigues


Alantra, the independent global mid-market investment banking and asset management firm, has announced that it has completed the refinancing of the luxury boutique hotel Boho Club Marbella through its commercial real estate debt fund, Alteralia Real Estate Debt FIL (Alteralia RED), for a total amount of  €18.5 million. This is the fourth investment closed by Alteralia RED.

The hotel is a c.21.000 sqm complex located in Marbella’s Golden Mile (Málaga, Spain), in one of the most sought-after touristic destination in Costa del Sol and Spain. Its restaurant has been recommended in Guide Michelin and the hotel was awarded the best luxury boutique hotel in Spain in 2021 by the Spain Luxury Hotel Awards.

Alteralia RED is providing a long-term and bullet financing that will allow the owner, the Swedish company Quartiers Properties AB (publ), to reduce financing costs and provide the flexibility to continue investing and developing other real estate assets in the Costa del Sol. Quartiers Properties AB (publ) is a publicly listed company in Sweden, trading at Nasdaq First North Growth Market under the ticker QUART since 2017, and is the sole owner of the property, the brand as well as the management company Boho Club.

Jaime Cano, Partner at Alantra Private Debt, highlighted: “We are delighted to provide flexible financing to the Boho Club in Marbella, a high-quality boutique hotel which benefits from positive market dynamics and good performance thanks to a combination of prime location and a sound value proposition. Leveraging on Alantra’s leading market positioning, Alteralia RED aims to become a trusted financial partner to European commercial real estate transactions.”

Marcus Johansson Prakt, CEO at Quartiers Properties AB (publ) continues: “This is a strategically important and well-timed transaction for us which signals a turning point for the company where we leave Covid-19 behind us and focus towards growth in the hotel sector. The solution offered by Alantra proved to be the most appropriate for us considering the terms, flexibility and loan size, even in comparison to offers from Spanish banks received during the fundraising process.”

Alteralia RED was advised in this deal by EY and Baker & Mackenzie while Quartiers Properties AB (publ) was advised by Garrigues.

Baker McKenzie advised Alteralia RED with a team led by Real Estate head partner Guillermo Rodrigo, together with senior associate Manuel Rodríguez Caballer and junior associate Camila Delgado.

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