Addleshaw Goddard advises Iroko Zen on hotel acquisition
Addleshaw Goddard has advised Iroko Zen on the acquisition of the Nevada Palace Hotel, in Granada, through a sale and leaseback transaction with hospitality operator Grupo Abades. The deal has been formalised via a 25-year lease agreement, thus consolidating a long-term collaboration between both companies.
The property, situated in a prime tourist area of Granada, is a four-star hotel offering 258 rooms, an event hall, training facilities, a spa, gym, swimming pool, and a restaurant. Grupo Abades plans to carry out an ambitious renovation and improvement programme, states Addleshaw.
The Addleshaw Goddard team that advised on the transaction was led by José Antonio Calleja, partner and head of the Real Estate practice, supported by senior associate Pilar Lorenzo (both pictured from left to right).
