This is the third acquisition closed by Schroders Capital in Spain after the pandemic and the second one entrusted to the Firm after the purchase of the Hotel Apolo in Barcelona at the end of July 2021.
The transaction has been articulated through the purchase, on the one hand, of the newly built hotel through an asset deal and, on the other hand, of the operating company (“OpCo”) owning all the elements attached to the hotel business (e.g. employees, licenses, contracts and commercial relationships with third parties) through a share deal.
The transaction was completed in just four weeks, requiring a very intense involvement of our team to close before 31 December 2022.
It was one of the most significant transactions to take place in the Balearic Islands in 2022 and a unique opportunity for the Firm to strengthen its credentials in corporate real estate transactions.
CMS Spain advised on this deal with a team led by partner Javier Colino, senior associate Cristina Ridruejo, and associates Jorge Durán, Javier Belmonte, and José Luis Rodríguez.
Pinsent Masosn advised the seller (KKH PROPERTY INVESTORS, S.L.) with a team led by Real Estate partner José Luis García-Manso, with the participation of associate Raquel Badell Fabelo, lawyer Pedro Esquivel de la Guardia, partners Inmaculada Castelló, Nick Skea-Strachan (London), José Millán and Sofía Parra, and lawyers Javier Valdés y Pedro Gila.
