Cheyne Capital and Natixis have provided financing for LHC's €154m acquisition of Chateau La Messardiere. A 5-star hotel located in Saint Tropez has been among the 25 French hotels with the “palace” distinction. LHC, the luxury hotel branch of LOV Group, is planning a €40m refurbishment to modernise the hotel and improve its services.
The financing, for a total amount of €271m, consists of a €161m senior loan subscribed by Natixis and a €110m mezzanine loan subscribed by Cheyne Capital. It will allow the acquisition and refurbishment of La Messardiere as well as the full refinancing of the €155m senior LHC loan provided by Cheyne Capital in April 2018.
Natixis was advised by Gide Loyrette Nouel while Cheyne was advised by De Pardieu Brocas and Maffei. Both were advised by Lasaygues and Eight Advisory and mandated JLL as an independent advisor. LOV Group was advised on the financing by Darrois Villey Maillot Brochier as well as E&Y, EY Societe d’Avocats and Excen Notaires et Conseils.