241 Room Forward Funded Hotel Acquisition
16127
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241 Room Forward Funded Hotel Acquisition

Transaction Management | Post Completion Advisory
Project value

$83m

Client

Interglobe

Category
Interglobe
About This Project

Partner were engaged by Interglobe as transaction manager and advisor in April 2018 to manage the acquisition of a 241 room forward funded hotel acquisition, including overseeing developer and builder due diligence and negotiating key commercial elements of managing legal and commercial arrangements with the developer and builder for the forward funded acquisition.

 

Partner played a key role in structuring and negotiating the transaction terms with the purchaser, nor the developer having experience with forward funded development structures.  In particular, Partner leveraged its experience in the negotiation of numerous transactions of this kind to ensure that the appropriate arrangements were in place to manage the purchaser’s risk as both the 100% financier and long term owner of the asset.  This included ensuring comprehensive design controls together with a package of security arrangements including profit retention, performance security, cashflow controls, independent certification of project claims on a cost to complete basis and building contract step in rights.