Proskauer Advises on Acquisition of London Kings Cross Travelodge

LONDON--(BUSINESS WIRE)-- International law firm Proskauer advised Hong Kong-listed Magnificent Real Estate on its recent acquisition of Travelodge London Kings Cross, from Henderson Global Investors.

King Express Development, a wholly owned subsidiary of Magnificent, agreed to buy the six story, 408-room Travelodge London Kings Cross for £70 million. This marks their first acquisition in the Capital, following numerous investments in Asia’s hotel and property market.

The deal was led by Private Equity Real Estate partner Joanne Owen, who joined Proskauer in London just last month. She was assisted by associate Natalie Milnes. Jo has been involved in a number of landmark real estate transactions in the UK and internationally, advising on acquisitions, disposals, joint ventures, developments and redevelopment schemes.

About Proskauer

Proskauer has advised on some of the most complex and sophisticated private equity real estate transactions in the market, and in the last month alone has advised on transactions with a combined value of over $13 billion.

The Firm’s lodging and gaming experience extends to hotel and casino development and construction; portfolio and single-property acquisitions, sales and restructurings; financings; management; marketing; reservations systems; litigation counseling and strategic planning; and ancillary services.

Other recent headline transactions include representing advising longtime client AccorHotels in its acquisition of three of the world's most iconic hotel brands: Raffles, Fairmont and Swissôtel; and advising an international sovereign wealth fund buyer in the acquisition of The London Hotel in New York City.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160628006603/en/

Proskauer
Stefanie Marrone, 212-969-3302
Associate Director of Communications
[email protected]

Source: Proskauer

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