ETERNAM acquires the Moulin Plaza hotel in the heart of Paris’ 9th arrondissement
At the end of July, Eternam acquired the Moulin Plaza, a 3-star, 50-room hotel (walls and goodwill) located at the foot of the Moulin Rouge. The property will be renovated and upgraded, enabling it to capitalize on its excellent fundamentals.
As part of this project in the heart of Paris, Eternam has set up a club deal bringing together some thirty private and institutional investors.
The strategy pursued by Eternam and its operator Honotel consists in carrying out a program of works dedicated to the rooms and common areas. The investments will refresh the asset by rethinking the layout and decoration of the entire hotel. The hotel will also be upgraded to 4-star status.
These investments will enable the hotel to take full advantage of the local market, ideally located between the Central Business District and the Butte Montmartre.
Jonathan Donio, Managing Director of Eternam, comments:
“The acquisition of the Moulin Plaza hotel confirms our strong convictions in the Paris market. This acquisition enables us to position our clients in a high value-added operation, and reaffirms our long-term partnership with Honotel. This club deal illustrates our determination to continue investing in the hotel asset class, which has proved its resilience in an uncertain economic climate.”
Hélène Gauthier and Patrick Luis, Honotel General Managers, state:
“The acquisition of the Moulin Plaza hotel by Eternam perpetuates our long-standing partnership with Eternam and its teams, and strengthens Honotel’s historic position as a hotel operator in the Paris market”.
FPCI Moulin Plaza was supported in this transaction by :
Corporate and transactional: Belay Avocats (Julia Elkael, Géraldine Eberhardt)
Intermediary (acquisition mandate): JLL (Laura Ben-Ibgui, Antonin Bastide, Sonia Labbas)
Legal audit: Belay Avocats (Géraldine Eberhardt, Julia Elkael)
Social audit: Versant Avocats (Louise Thiebaut, Fanny Perhirin)
Tax audit: GALM (Pierre Appremont, Pierre Pérol)
Financial audit: Mazars (Baptiste Kalasz, Natacha Dépit, Romain Josserand)
Notarial audit: N9 Notaires (Pierre Dailliez)
Technical audit: Artélia (Wandrille Boivin, Mustapha Ghalem)
The Moulin Plaza FPCI, managed by Eternam, was specifically supported by the following advisors:
Tax structuring: GALM (Pierre Appremont, Pierre Pérol)
Legal structuring and regulatory aspects: GALM (Arnaud Guérin, Pauline Damblant, Sébastien Bonami)
The sellers were advised by Maître Charly Richard and assisted by the KL law firm (Thomas Prud’Homoz).