DLA Piper, HL advise on €125.5m RE sale & leaseback deal

The Real Estate teams of DLA Piper and Hogan Lovells have advised NH Hotel Group and LaSalle Investment Management, respectively, on the €125.5 million sale & leaseback of NH Collection Barcelona Gran Hotel Calderón

The transaction signed by NH Hotel Group and LaSalle Investment Management consisted of the sale and leaseback of the hotel and its simultaneous lease for 20 years with the option to exercise two additional 20-year extensions.

Located on the Rambla de Cataluña, the NH Collection Gran Hotel Calderón is one of the most representative hotels in the city. It has a 5-star category and has 255 rooms spread over eleven floors, plus a swimming pool on the terrace, which offers one of the best panoramic views of the whole of Barcelona.

The Hogan Lovells multidisciplinary team that advised LaSalle Investment Management on the acquisition of the hotel and the tax structuring of the transaction was composed of Emilio Gómez, Carlos Gil and Marta Santos from the Real Estate department, and Javier Gazulla, Alejandro Moscoso and Priscila Méndez from the Tax department, who formed the advisory team.

The DLA Piper team advising NH Hotel Group was made up of Orson Alcocer, Ángel Maestro, Luis Durbán and Julia Fernández from the Real Estate department, and Francisco Perales and Alejandro Márquez from the Urban Planning department.

Orson Alcocer (pictured left) stated: “We are very proud to have participated in such a historic operation, and it has been very enriching to have the partners of Hogan Lovells on the other side.”

Emilio Gómez (pictured right) commented: “We are delighted that LaSalle Investment Managers has chosen us to advise them on their first hotel investment in Spain. Our experience in the sector has enabled us to identify and advise on the key elements of the deal with great teamwork between Hogan Lovells Real Estate and Tax.”