As first informed by Brainsre.news and confirmed by Legal Dealmaker with the firm, EY has been a full and sole advisor on the purchase and financing of the hotel complex, since its Real Estate team has been the advisor for all of Zetland’s operations in Spain. The final amount of the transaction has not been disclosed.
According to the same media (Brainsre.news) the fund, led by Ahmed Hamdani, is very active in the domestic hotel market, detecting great opportunities for the repositioning of hotels, and the Zetland Special Situations Fund I vehicle, closed with oversubscription in December 2019, has €372 million at its disposal. In total, the fund manager has €500 million in assets under management.
EY Abogados’ team was led by Real Estate Construction Law partner and head of Legal Managed Services in Spain Ignacio Sáenz de Santamaría, along with senior manager Natalia Tova and senior lawyer Carlos Conejo. Aside from EY Abogados, other areas of EY have been involved in the transaction too.