Pérez-Llorca and Hogan Lovells on OHLA-Canalejas deal

Pérez-Llorca has advised OHLA on the refinancing of a €63 million debt tied to the Canalejas complex in Madrid, a move designed to facilitate the eventual sale of the asset after OHLA concluded its profit-sharing arrangement with hospitality investor Mohari. Hogan Lovells has advised Banca March, Banco Pichincha España and BTG Pactual Europe on this deal.

Galería Canalejas Madrid hosts more than twenty top-tier international brands, including Dior, Cartier, Louis Vuitton, Rolex and Valentino. Located in the heart of Madrid, it has been a flagship development for OHLA. The debt refinancing follows the completion of the distribution agreement between OHLA and Mohari. The funds obtained through the refinancing were used, on the one hand, to repay the existing financing and, on the other, to provide a new facility intended for future capital expenditure (capex) investments in the shopping gallery.

The team

The transaction involved a multi-disciplinary team from Pérez-Llorca spanning corporate, finance, and tax practices. The team was led by corporate partners Nasif Hamed and Ángel Martín, alongside finance partner Ildefonso Arenas and fiscal partners José Azqueta and Yi Zhou.

On Hogan Lovells’ side, the transaction was led by banking & finance partner Alfredo Barona, together with his team comprising senior associate Miguel Mallo and associate Alejandra Benages.

Pictured above: Nasif Hamed, Ángel Martín, Ildefonso Arenas, José Azqueta, Yi Zhou.
Pictured below: Alfredo Barona