Cases & Deals

Pandox acquires seven hotels in Germany, Austria, and Netherlands for €415 million (US$440 million)

Client(s) Pandox AB

Jones Day advised Pandox AB in connection with the €415 million (US$440 million) acquisition and related financing of seven hotels in Germany, Austria, and the Netherlands, from Invesco Real Estate European Hotel Real Estate Fund II FCP - SIP. The acquisition comprises the following hotels: NH Collection Hamburg, NH Frankfort Airport, NH Munich Airport, Radisson Blu Cologne, NH Salzburg, NH Vienna, and Park Hotel Amsterdam. The financing consisted of a €269.7 million (US$281.7 million) syndicated term loan facility arranged by Aareal, a leading German mortgage bank, for the partial financing of the purchase price of the shares in the target entities and the refinancing of existing debt of the target entities.

In addition to M&A representation, Jones Day provided antitrust and regulatory advice regarding this transaction.