- 4 stars+ hotel
- Central location
- 62 rooms
- lounge bar
- conference room
The family was previously asking 70M but we are in contact with the management company and there is a possibility to buy the credit (NPL) that includes this asset and others of the family. An acceptable offer would be 28M + fees.
The sale process for the asset will be as follows: the bank is ready to sell the asset for €29m. We need a NBO with proof of funds in order to Begin the due diligence process. The loan face value is €35m
The lender/owner, is disputing the credit in court. Accordingly there’s a pending litigation on the asset. Therefore, the investor can either 1) agree with the owner an additional price to be paid for him to walk away, or 2) place a condition in the sale agreement that the purchase will be final only upon success and wait till the litigation is over.