JLL advises Angelo Gordon on €120 million financing for hotels portfolio acquisition in Paris
LONDON, 11 November 2019 – JLL has advised global investment manager Angelo Gordon, by securing €120 million in debt financing to facilitate the acquisition of three hotels owned by French listed company Gecina in Paris.
JLL acted on behalf of Angelo Gordon Europe, LLP and EQ Hotels, Ltd., and placed the loan with Aareal Bank. The portfolio includes the Holiday Inn Paris Notre Dame, the Holiday Inn Paris Saint-Germain-des-Prés and the Courtyard by Marriott Paris Boulogne, totaling 355 rooms.
Chris Gow, Head of Debt Advisory, EMEA for JLL Hotels & Hospitality, said: “We are delighted that Angelo Gordon and EQ Hotels trusted JLL to assist with securing this landmark financing. I am especially pleased JLL was able to leverage our global Capital Markets platform across the US and Europe to provide a seamless execution with the highest level of service and attention throughout the transaction.”
Bill Grice, Co-Head Hotel Investment Banking Group, Americas, JLL, added: “Paris continues to be one on of the most sought-after markets for hotel investors and our long-standing lender relationships throughout EMEA ensured we would secure the best terms available for our clients.”
Dr. Roeland van Gool - Vice President Special Property Finance – Hotel Properties, Aareal Bank, commented: “We are very pleased that we secured the mandate for this financing. We thank Angelo Gordon Europe LLP, EQ Hotels Ltd., and JLL for trusting us, and our long-standing hotel expertise with this transaction and look forward to supporting ownership and management throughout the repositioning of these assets.”
JLL also advised on the sale of five of the assets in the portfolio.
Notes to editors:
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.