PAREF refinances Belambra VVF Group in the framework of a sale and leaseback transaction
Jones Day represented PAREF in real estate refinancing of the Belambra VVF Group in the framework of a sale and leaseback transaction with a pool of banks led by Credit Agricole Leasing. This refinancing of financial lease transaction concerned eight properties in France, 1,422 accommodations, and consisted in the sale of the walls, the businesses being operated by the Belambra VVF Group by 12-year leases. At the same time, Vivapierre, a real estate investment vehicle created by PAREF, holding 25% of the share capital with other investors, took control of five entities holding five of the eight properties. This vehicle will provide the funds necessary to the renovation of these five properties.