Banco Sabadell in Financing of Parisian Hotel Acquisition

Cleary Gottlieb acted as special French counsel to Banco Sabadell SA in its €58 million financing of Lafayette DM SAS’s acquisition of the Hotel Barcelona in Paris. Lafayette is a special purpose vehicle owned by Derby Hotels Collection SL and Metropolis Inmobiliarias y Restauraciones SL. The deal closed on April 24.

The financing included an acquisition facility and a VAT facility. It was secured by a mortgage on the acquired hotel and pledges over other assets held by the borrower and the group.