K&L Gates Advises Invel on €111.2 Million Bond Issue to Finance Redevelopment of Hotel Majestic in Rome

Global law firm K&L Gates assisted Invel Eudora Fund 2 GP S.à.r.l (Eudora 2) with a €111.2 million bond issuance to finance the development and redevelopment of the former Hotel Majestic in Rome. The 87-room property will be managed by Starwood Hotels and repositioned as the 5-star Baccarat Hotel Rome.

Eudora 2 is an independent real estate investment and asset manager targeting real estate investments in Southern Europe with an opportunistic strategy. The fund was launched by European private equity real estate firm Invel.

The cross-practice team advising Eudora 2 was led by Milan-based Finance partner Chiara Anceschi with support from Real Estate partner Francesco Sanna, Town Planning partner Vanessa Boato, Labor, Employment and Workplace Safety partner Roberto Podda, and Tax partner Vittorio Salvadori di Wiesenhoff. Additional assistance was provided by senior associate Carlotta Dionisi, associate Sofia Stefani, and trainee Elisa Massimetti. Special counsel Oscar Saporito (London) advised on debt capital market aspects of the transaction. Finance partner Jan Boeing and his team provided Luxembourg legal advice.

Anceschi commented: “We are proud to have been able to draw from the strength and experience of our Italian and wider global teams to assist our client. The hospitality industry, and, more specifically, the luxury hotel and resort market, continue to expand across Europe. This deal is a bright spot not only for our client and Italy, but also for the wider region.”

K&L Gates’ global Finance practice integrates the many disciplines involved in financing and restructuring transactions across markets and industries around the globe. With lawyers in offices across Asia, Australia, Europe, the Middle East, North America, and South America, the practice maintains a balance between buy-side and sell-side representation in its work on behalf of lenders, borrowers, servicers, collateral managers, trustees, rating agencies, investors, and other participants in a wide array of financing transactions.