Baker McKenzie has advised Fattal European Fund 2, the PE-arm of Fattal Hotel Group/Leonardo Hotels, on the acquisition, financing and refurbishment of The Dilly Hotel, London, for a total investment of approximately £220 million.
Since 2022, Fattal has held the sub-lease agreement for the Hotel, which it acquired in a Baker McKenzie advised transaction for approximately £90 million. After several years of complex negotiations, Fattal has now completed the £66.5 million acquisition of the leasehold in furtherance of its strategy for the Hotel. In addition to the acquisition, Fattal anticipates that it will invest approximately an additional £60 million in the refurbishment and upgrade of the iconic 283-key Grade-II listed Hotel.
The acquisition, refinancing and refurbishment programme are supported by a £170 million syndicated financing facility arranged by Bank Hapoalim.
The Baker McKenzie team has a long history representing the Fattal Group across the UK and Europe.
The transaction was led by leveraged finance and high yield capital markets partner David Becker, real estate partner Ben Farnell, tax partner Matt Legg, infrastructure partner Rhiannon Williams, real estate counsel Jack Rubin, tax of counsel Adam Peacock and associates Laura Devlin, Charlene Tomita, Yasmin Kalhori, Tetyana Zhuravska, Andrew Hope and Lis Haraqia, and trainees Amina Belhaj and Anjali Desai.
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