Alantra continues international expansion of its Private Debt business with the financing of two urban hotels in Portugal through its Real Estate debt Fund
Date 20 February 2023
Type Alternative Asset Management
- The hotels, opened in 2020 (Lisbon) and 2021 (Porto), have been acquired by a French private real estate investment manager
- The assets are operated by international chain B&B Hotels through a long-term lease agreement
- The investment represents a new milestone in the international expansion of Alantra’s private debt business, following the recently announced investments in Italy and France
Madrid/Lisbon – Alantra, the global alternative asset management and investment banking firm, is pleased to announce the financing of the acquisition of two hotels located in Lisbon and Porto, Portugal.
The acquisition of the assets has been carried out by a French private real estate investment manager focusing on yielding RE assets across Europe. B&B Hotels, an international chain operating more than 600 hotels in Europe and owned by Goldman Sachs’ private equity division, operates the hotels through a long-term lease agreement.
The Lisbon hotel, in operation since July 2020, has 188 rooms over 5,800 sqm, while the Porto hotel, with 129 rooms over 4,300 sqm, was launched in July 2021.
Jaime Cano, Partner at Alantra Private Debt, said: “We are very pleased to close these two investments in two of the most thriving cities in Portugal. With this transaction, our Real Estate debt fund has closed eight transactions across different commercial real estate assets and continues its international expansion across Europe.”
The announcement represents a new milestone in the international expansion of Alantra’s private debt business. Last November, the firm announced that its Real Estate debt Fund completed the first investment in France – financing the acquisition of a French urban logistics asset, with funds Pictet and Freo.
Moreover, Alantra announced the expansion of its operations to the Italian market with the addition of a local team in Milan and the completion of its first Italian investment via its corporate direct lending strategy – the financing of the acquisition of HolwegWeber – a designer and assembler of machinery to produce paper bags – by private equity fund, Ambienta.
Vieira de Almeida and SRS Legal acted as legal advisors in the transaction.