U.K.-based Henderson Park closed the €550 million purchase of the Westin Paris-Vendôme hotel in the French capital from Singaporean sovereign wealth fund GIC Pte. Ltd. with the help of a senior financing package from Crédit Agricole Corporate and Investment Bank, Property Week reported.
The purchase of the 428-room in Paris' first arrondissement, agreed in December 2017, marks Henderson Park's second landmark hotel buy in the city after its acquisition of the Le Méridien Étoile in November 2016.
Eastdil and Freshfields Bruckhaus Deringer advised GIC on the transaction, while Henderson Park was advised by De Pardieu Brocas Maffei and Jones Day. Gide Loyrette Nouel advised Crédit Agricole on the financing deal.