Osborne Clarke, Reed Smith and Legance advise Alpha Bank, Situs Asset Management Limited and Castello SGR S.p.A. in €50 million fiancing for the development of a 5-star hotel in Cortina

Osborne Clarke and Legance advised, respectively,  Greek bank Alpha Bank, as lender, and Castello SGR S.p.A., on behalf of the closed-end alternative real estate investment fund Five Lakes, as beneficiary, in a transaction to finance the development of a five-star hotel in Cortina.

The project was sponsored by Greek investor Prodea Investments and Invel Real Estate.

Osborne Clarke advised Alpha Bank on the negotiation of the transaction and the preparation of the financial documentation, with a team led by partner Andrea Pinto, Head of Financial Services, composed of associates Alessandro Generali and Ugo Marchionne for banking aspects and Roberto Salis and Giovanna Costa for real estate aspects.

Legance assisted Castello SGR S.p.A. and the investors.

Reed Smith assisted the agent Situs Asset Management Limited.