Dentons has advised Banco Sabadell on the financing granted to Calena Partners for the acquisition of a portfolio of three hotel assets in Spain: Hotel Barceló Ponent Beach, Hotel Fergus Style Tobago, and Hotel Corallium Beach by Lopesan Hotels, located in the Balearic Islands and the Canary Islands.
The transaction was structured through a financing agreement comprising a mortgage tranche and a corporate tranche. It highlights the continued attractiveness of Spain’s hotel and real estate sector for investors.
Dentons’ advisory work covered the design and implementation of the financing structure, as well as the negotiation and drafting of the financing agreement and the associated security package.
The team at Dentons was led by partner Luis Belart, supported by counsel Ignacio Fernández and junior associate María Morales.
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