Baker McKenzie advised edyn hospitality group on its acquisition of Hotel Ascot in Zurich, which will reopen in summer 2023 under the name of edyn's lifestyle brand, Locke.
The purchase is edyn's first entry into Switzerland and continues the rapid European expansion of its Locke brand, which opened in six new locations in 2021, including London, Cambridge, Dublin and Munich.
The six-floor, 3,700-square-meter property located in Zurich Enge, close to the city center, will be converted into 80 rooms in a mix of studio and one-bed suites. Alongside amenities including a restaurant, bar and coffee shop, it will bring edyn's pioneering "hybrid hospitality" approach to Switzerland.
Acquisition debt funding was provided by Blackstone Mortgage Trust and KSL Capital Partners.
Baker McKenzie Switzerland advised the buyer on all legal aspects of the acquisition, the financing and the local corporate set-up.
Samuel Marbacher (partner, real estate and banking & finance) led the Baker McKenzie team, which consisted of Daniel Kälin and Basil Kirby (both associates, real estate), Manuel Meyer (partner, corporate), Joachim Frick (partner, insurance), Andrea Bolliger (counsel, tax), Susanne Liebel-Kotz and Alexandra Garg (both associates, tax), Sarah Poncini (associate, banking & finance), Christian Rioult and Cathrin Marxer (both associates, corporate), and Anna Bachmann, Lukas Frommelt and René Kühn (all trainee lawyers).
The purchase is edyn's first entry into Switzerland and continues the rapid European expansion of its Locke brand, which opened in six new locations in 2021, including London, Cambridge, Dublin and Munich.
The six-floor, 3,700-square-meter property located in Zurich Enge, close to the city center, will be converted into 80 rooms in a mix of studio and one-bed suites. Alongside amenities including a restaurant, bar and coffee shop, it will bring edyn's pioneering "hybrid hospitality" approach to Switzerland.
Acquisition debt funding was provided by Blackstone Mortgage Trust and KSL Capital Partners.
Baker McKenzie Switzerland advised the buyer on all legal aspects of the acquisition, the financing and the local corporate set-up.
Samuel Marbacher (partner, real estate and banking & finance) led the Baker McKenzie team, which consisted of Daniel Kälin and Basil Kirby (both associates, real estate), Manuel Meyer (partner, corporate), Joachim Frick (partner, insurance), Andrea Bolliger (counsel, tax), Susanne Liebel-Kotz and Alexandra Garg (both associates, tax), Sarah Poncini (associate, banking & finance), Christian Rioult and Cathrin Marxer (both associates, corporate), and Anna Bachmann, Lukas Frommelt and René Kühn (all trainee lawyers).
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