Gide and Taj advised Angelo Gordon. Clifford Chance and CMS Francis Lefebvre advised Gecina on the sale
Gecina announced the entering into of an agreement to sell its hotel portfolio to Angelo Gordon for a valuation (excluding transfer taxes) of EUR 181 million. This portfolio, which includes the real estate properties and on-going businesses (fonds de commerce) of five hotels located in Paris, Boulogne-Billancourt, Bougival and Roissy, is part of Eurosic’s portfolio, which Gecina acquired in 2017. The transaction should be completed by the end of 2019, after the information-consultation procedures of the employee representative bodies have been completed.
Gecina owns, manages and develops property holdings worth 19.3 billion euros at end- 2018. As a specialist for centrality and uses, the Group is building its business around Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a diversification division with residential assets and student residences.
Clifford Chance advised Gecina on this transaction with a team comprising Partner François Bonteil (Picture), Olivier Jouffroy (counsel), Adeline Lefaucheur (counsel) and Mehdi Bouzekri (associate) on real estate and corporate aspects.
Law Firms: Clifford Chance;