Luxury hotels: Cheyne Capital and Natixis finance an acquisition in Saint-Tropez
Cheyne Capital and Natixis announce today the financing of LHC's €154 million acquisition of Château La Messardière.
The funding sees LHC, the luxury hotel branch of LOV Group, acquire Château La Messardière, a 5-star hotel located in Saint Tropez which, since 2012, has been among the 25 French hotels with the “palace” distinction. LHC is planning a €40 million refurbishment to modernise the hotel and improve its services.
The financing, for a total amount of €271 million, consists of a €161 million senior loan subscribed by Natixis and a €110 million mezzanine loan subscribed by Cheyne Capital. It will allow the acquisition and refurbishment of La Messardière as well as the full refinancing of the €155 million senior LHC loan provided by Cheyne Capital in April 2018.
Natixis and Groupe BPCE have been arranging financing solutions for LOV Group for several years
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