Extendam has purchased the Sofitel Roma Villa Borghese and Sofitel Lisbon Liberdade and plans to commence improvement works on both hotels.
Located on Via Lombardia in Rome, the 5-star Sofitel Roma Villa Borghese comprises 78 rooms, a 60-seat restaurant, a roof terrace with panoramic view of Rome, a fitness centre and meeting rooms. The hotel underwent an extensive renovation in 2018 and will now undergo a new phase of technical works to improve its energy and environmental performances.
The acquisition was financed with a green loan with the support of of Crédit Agricole Corporate Investment Banking teams in Milan.
Extendam has appointed Ring a Bell Hospitality as asset manager of the hotel.
The Sofitel Lisbon Liberdade is located on the Avenida da Liberdade and comprises a gourmet restaurant, a bar, a banquet area, a fitness room and meeting & event spaces. Following the acquisition, the 5-star hotel will enter into a renovation programme which aims to boost its sustainability credentials. Extendam says all rooms will be renovated, the number of suites will be increased, and a spa & wellness area will be added.
The operation is being carried in collaboration with DG Invest, which will be in charge of the hotel asset management. The hotel acquisition and renovation are financed with a green loan granted by CAIXA Bank and BancoBPI.
The deals are the European private equity company’s first with French luxury hospitality company Sofitel, and are the latest in Extendam’s plan to expand its European hotel portfolio following its purchases of the Hilton Garden Inn Sevilla and the Mercure Den Haag in the Hague, both acquired in April.
Herbert Smith Freehills Paris, Herbert Smith Freehills Milan, CS’ Associados, Mazars, THEOP Italia, AEGILIM and Albion acted as advisors on the buy side. Uría Menéndez Proença De Carvalho Lisbon, Chiomenti Milan and JLL Hotels & Hospitality Group acted as advisors on the sell side.
Bertrand Pullès, deputy managing director of Extendam said: “These two deals mark the beginning of our partnership with Sofitel, a pioneer brand in French luxury hospitality which we are happy to support as the brand celebrates its 60th anniversary this year.”
Maud Bailly, CEO of Sofitel, MGallery and Emblems added: “Today, we are delighted to have Extendam as a partner to support the Sofitel brand’s influence in Europe. In addition to their robustness and professionalism, EXTENDAM is perfectly understanding the brand DNA and the ambition we have for Sofitel.
Jean-Marc Palhon, Extendam chairman added: “In the very centre of two of the most attractive and dynamic capitals in Europe, both assets benefit from highly sought after and prestigious locations. We are delighted to set foot in Rome and Lisbon with these two landmark hotels that we consider among the most beautiful assets within the European Sofitel collection.”