Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Pandox AB on its acquisition of three aparthotels, which completed today. The total acquisition value is approximately £230 million and the transaction includes three hotels in attractive micro-locations in central London with a total of 503 rooms.
The hotels are branded as Residence Inn by Marriott and the deal represents the first cooperation between Pandox and Marriott. Axiom Hospitality will operate the hotels for Pandox under a management agreement.
The acquisition is financed by available cash funds and a new green bank loan.
The Freshfields team advising Pandox AB is led by corporate real estate partner and head of hospitality, Victoria Hills, assisted by associate Emilia Farley and senior associate Moray Macdonald. Financing advice is led by counsel Tom Wallis.
