Mohari Hospitality, Omnam Investment Group and musician Pharrell Williams have acquired the former Hôtel Saint-James & Albany in Paris.
Located between Rue de Rivoli and Rue du 29 Juillet in the 1st arrondissement, the property was built in the 17th century and is close to key attractions including the Tuileries Gardens and the Louvre.
The acquisition is the latest made by the Mohari and Omnam strategic joint venture, which was formed in July 2022 to increase the impact of developments in luxury hospitality, food & beverage and leisure throughout Europe. It is the first co-investment with Williams.
Mohari and Omnam were advised on the acquisition by lawyers August-Debouzy, GALM and Ashurst alongside PWC. Eastdil Secured advised on the transaction, and affiliates of Apollo Management International LLP acted as lenders.
What they said
J. Allen Smith, CEO of Mohari Hospitality said: “This project exemplifies our dedication to identifying and creating unique luxury hospitality projects that deliver unparalleled experiences in the world's most desirable destinations. We intend to honour the property’s extraordinary romantic heritage while creating a new hotel which represents the state of the art of modern luxury hospitality.”
David Zisser, founder & CEO of Omnam Group added: “We are incredibly excited to demonstrate, once again, Omnam’s expertise in creating lifetime luxury hospitality experiences with such a unique historical building in a city as storied as Paris, and in a particularly distinguished location in the city. This unique asset has been selected as the flagship of our exceptional partnership with Mohari.”