A multidisciplinary team from international law firm Womble Bond Dickinson (WBD) has advised real estate fund manager Frogmore on a joint venture with C1 Capital Partners for the purchase of two UK hotels.
WBD's property team, led by Senior Counsel Adam Taylor-Smith and Managing Associate Georgina Hook, advised Frogmore on the purchase of the Park Inn Hotel, Northampton, and Stifford Hall, Thurrock, by a newly formed joint venture with C1. The deal also involved WBD's commercial team, led by Partner Lucy Pringle, who advised on a hotel management agreement for Park Inn Hotel, appointing C1 as manager, and a suite of commercial agreements for the hotels including a new franchise agreement with world-leading hospitality group Accor.
Partner Graham Jeffries from WBD's banking team also provided support, representing a great example of the firm's ability to work across disciplines to service the client's needs and cover the breadth of the transaction.
Both hotels will operate under the Mercure brand following renovations and rebranding.
John Matthews, Director of Asset Management at Frogmore said:
"It's really important for us to have access to the level of experience, expertise and resources that Womble Bond Dickinson has. The team's combined expertise gave us lots of confidence as we took this next step and the firm's track record in the hospitality sector really shone through and played a big part in the successful completion of this deal."
Lucy Pringle from WBD added:
"Womble Bond Dickinson prides itself on being able to offer cross-disciplinary support and we are delighted to have been able to play a part in the conclusion of this complex transaction. The relationship with Accor represents an exciting new chapter for the Park Inn Hotel and we look forward to working with the joint venture partners on this project and other hospitality opportunities going forward."
Claire Wilkinson, Partner and Head of WBD's Retail and Hospitality team, adds:
"It's been a pleasure to work with Frogmore and C1 on this complex and time critical transaction. Our market leading hospitality expertise, and our ability to provide a multidisciplinary team of experts at short notice enabled us to secure the best possible outcome for the client."
WBD's full-service hospitality sector comprises over 150 lawyers and advises a broad spectrum of industry clients on day-to-day operations and their most complex transactions. For more information, click here.