Frankfurt am Main - Paul Hastings advised INTERNOS Global Investors, a pan-European owner-managed real estate fund manager with €3.5 billion AUM, on the €45 million acquisition of the Suecia Hotel in Madrid from Explotadora de Hoteles EDTL S.L as part of its Hotel Real Value Plus “Value Add” mandate. This follows the only recently announced acquisition of the NH Hotel Turin Santo Stefano from Immobiliare Galileo S.r.l. in December 2015, also part of its Hotel Real Value Plus “Value Add” mandate.
The hotel will be operated under a new long-term lease containing fixed and variable rent components by the Spanish NH Hotel Group. This 4* hotel, located in the historical center of Madrid, has 127 rooms, a restaurant, bar, six conference rooms and 13 parking spots.
The Paul Hastings Team consisted of London Partner David Ryland (Real Estate), Frankfurt Partner Dr. Jan Gernoth (Real Estate) and tax advisor Uwe Halbig (Frankfurt).