Key Takeaways
- • K&L Gates advised Invel Eudora Fund 2 GP S.à.r.l on a €111.2 million bond issuance to finance the redevelopment of the former Hotel Majestic in Rome into a luxury 87-room property.
- • The repositioned asset will operate as the 5-star Baccarat Hotel Rome under management by Starwood Hotels, targeting the ultra-luxury hospitality segment in Southern Europe.
- • Eudora 2, the investment vehicle, is an independent real estate fund launched by European private equity real estate firm Invel with an opportunistic investment strategy focused on Southern European markets.
- • K&L Gates deployed a cross-practice team spanning finance, real estate, tax, labor, and town planning disciplines across multiple jurisdictions (Italy and Luxembourg), reflecting the transaction's complexity and multifaceted regulatory requirements.
- • The deal underscores continued institutional capital deployment in premium hospitality assets across Europe, with luxury hotel repositioning strategies attracting structured debt financing from specialized real estate funds.
Summary
Global law firm K&L Gates has completed advisory work on a €111.2 million bond issuance for Invel Eudora Fund 2 GP S.à.r.l (Eudora 2), a specialized real estate investment vehicle targeting opportunistic acquisitions in Southern Europe. The bond proceeds will finance the comprehensive development and redevelopment of the former Hotel Majestic, a prominent property located on Rome's Via Veneto, into a high-end luxury hospitality asset.
The redevelopment project will transform the 87-room property into the Baccarat Hotel Rome, a 5-star branded hotel operating under Starwood Hotels management. This repositioning reflects a strategic shift toward the ultra-luxury hotel and resort segment, aligning with broader European expansion trends in the premium hospitality market. Eudora 2 is an independent real estate asset manager launched by Invel, a European private equity real estate firm, and operates with an opportunistic investment strategy tailored to Southern European real estate opportunities.
K&L Gates assembled a multidisciplinary cross-practice team to structure and execute the transaction, reflecting its complexity across jurisdictions and regulatory domains. The Italian-led team was headed by Milan-based Finance partner Chiara Anceschi, supported by Real Estate partner Francesco Sanna, Town Planning partner Vanessa Boato, Labor and Workplace Safety partner Roberto Podda, and Tax partner Vittorio Salvadori di Wiesenhoff. Additional support came from Luxembourg counsel, with special counsel Oscar Saporito (London) contributing expertise on debt capital market structuring. Anceschi noted that the transaction demonstrated the strength of K&L Gates' integrated global capabilities and highlighted sustained investor appetite for luxury hospitality assets across European markets.
The transaction reflects a maturing market dynamic wherein specialized real estate investment funds are accessing structured debt capital markets to finance high-value hospitality repositioning projects in major European cities. The €111.2 million financing size and multi-jurisdictional execution underscore institutional confidence in the luxury hotel segment's recovery and expansion trajectory post-pandemic.
The redevelopment project will transform the 87-room property into the Baccarat Hotel Rome, a 5-star branded hotel operating under Starwood Hotels management. This repositioning reflects a strategic shift toward the ultra-luxury hotel and resort segment, aligning with broader European expansion trends in the premium hospitality market. Eudora 2 is an independent real estate asset manager launched by Invel, a European private equity real estate firm, and operates with an opportunistic investment strategy tailored to Southern European real estate opportunities.
K&L Gates assembled a multidisciplinary cross-practice team to structure and execute the transaction, reflecting its complexity across jurisdictions and regulatory domains. The Italian-led team was headed by Milan-based Finance partner Chiara Anceschi, supported by Real Estate partner Francesco Sanna, Town Planning partner Vanessa Boato, Labor and Workplace Safety partner Roberto Podda, and Tax partner Vittorio Salvadori di Wiesenhoff. Additional support came from Luxembourg counsel, with special counsel Oscar Saporito (London) contributing expertise on debt capital market structuring. Anceschi noted that the transaction demonstrated the strength of K&L Gates' integrated global capabilities and highlighted sustained investor appetite for luxury hospitality assets across European markets.
The transaction reflects a maturing market dynamic wherein specialized real estate investment funds are accessing structured debt capital markets to finance high-value hospitality repositioning projects in major European cities. The €111.2 million financing size and multi-jurisdictional execution underscore institutional confidence in the luxury hotel segment's recovery and expansion trajectory post-pandemic.
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