CMS advises Schroders on purchase of “The Standard”
CMS Albiñana & Suárez de Lezo has advised Schroders Capital on the purchase of the luxury hotel “The Standard” in Ibiza. This is the third acquisition that Schroders Capital closes in Spain after the pandemic and the second that it entrusts to the firm after the purchase of the Hotel Apolo in Barcelona at the end of July 2021.
The transaction has been articulated through the purchase, on the one hand, of the recently built hotel through an asset deal and, on the other, of the operating company (“OpCo”) that owns all the elements attached to the hotel business (e.g. employees, licences, contracts and commercial relationships with third parties) through a share deal.
The operation has been closed in just four weeks, requiring a very intense involvement of our team for the closing to take place before December 31, 2022.
It has been one of the most relevant operations that has been carried out in the Balearic Islands in 2022 and a unique opportunity for the Firm to reinforce its credentials in corporate real estate operations.
The operation has been led by Javier Colino (partner), Cristina Ridruejo (senior associate), Jorge Durán, Javier Belmonte and José Luis Rodríguez (associates).
The seller, KKH Property Investors, has been advised by Pinsent Masons with a team led by (pictured below from left to right) José Luis García-Manso, Real Estate Partner, and included, among others, Raquel Badell Fabelo, Pedro Esquivel de la Guardia, Inmaculada Castelló, Nick Skea-Strachan, José Millán, Sofía Parra, Javier Valdés and Pedro Gila.
