Linklaters advises Spanish bank BBVA on £110m+ London hotel development acquisition
12 January 2010
Linklaters has advised the legal and real estate teams of the Spanish bank BBVA on its acquisition for more than £110m of the half-completed five-star hotel redevelopment of Marconi House on the Strand, London WC1.
BBVA had originally provided the debt for developer Urvasco Limited, a subsidiary of the Spanish company Grupo Hotelero Urvasco, who failed to complete the development. In July 2009 PricewaterhouseCoopers appointed as fixed charge receiver and the development was marketed for sale.
Linklaters team which advised BBVA was led by London real estate partner James Knox and Madrid real estate partner Rafael Molina.
