Addleshaw Goddard advised Norlake Hospitality on the sale of The Hoxton hotel in Paris.
Addleshaw Goddard advised Norlake Hospitality – a lifestyle hotel and restaurant company - on the sale of The Hoxton Paris to Schroders.
Norlake Hospitality, a real estate developer with hotels in the UK, Europe and the US, has simultaneously completed two sales in Europe to Schroders. The first one relates to the sale of The Hoxton in Paris (second arrondissement) and the second concerns the sale of The Hoxton in Amsterdam (Herengracht). The two properties are fitted with 172 and 110 rooms respectively.
Schroders, an asset management company, completed both acquisitions with Sharan Pasricha, founder of the London brand and co-CEO of Ennismore. However, the management of Ennismore will remain in charge of the Paris and Amsterdam hotels.
With these two acquisitions, Schroders is expanding its portfolio, following the successive purchases of Sofitel The Grand Amsterdam, Grand Hotel Central Barcelona and Standard Ibiza, which completed at the end of 2022.
Counsel related to The Hoxton Paris transaction:
For legal aspects:
- Edouard Vitry, partner, Sylvie Chandesris, counsel, Blandine Bourelle, managing associate, Hugo Jung, associate, in the Real Estate team;
- David Lambert, partner in private equity;
- Michaël Cousin, partner in competition and distribution;
- Baudouin Gueyffier, managing associate, and Jmaïaa Lachheb, associate, in the corporate/M&A team
- Emmanuelle Lecornu-Mercier, managing associate, and Naomi-Lan Leroy, associate in the employment team
For legal aspects: Thomas Breart de Boisanger (partner), Alexandre Blestel (partner) and Margaux Captier, (associate).
For financial and tax aspects: The Deloitte team is composed of Aisling Colgan, Pascal Souchon and Christophe Le Bon.
Notaries: The Cheuvreux team is composed of Stephen Ryan and Victor de Verthamon.
Debt management service: Eastdil, (Victor Naudin).
The financing was provided by Crédit Agricole CIB, Isabelle Jourdanne-Sirol, advised by Gide (Rémi Tabbagh) and Wargny Katz (Stéphane Carlier).
About Addleshaw Goddard Paris
Addleshaw Goddard Paris is a law firm specializing in business law and dedicated to assisting major groups, SMEs, investment players and executives.
Founded in February 2021, the Paris office already has a team of 45 lawyers (including 13 partners) with specialized expertise in M&A, private equity, banking and finance, tax, competition law, commercial, real estate, litigation, business criminal law, employment law, IP/IT and distressed companies.
Internationally, Addleshaw Goddard has 16 offices in the UK, Western Europe, the Middle East and Asia and operates in more than 50 specialties covering corporate and commercial law, finance and projects, litigation and real estate. With over 1,600 lawyers, 2,500 corporate clients (including 47 of the FTSE 100) and an involvement in over 20% of public M&A deals by 2021, Addleshaw Goddard is one of the world's most successful law firms.