SFL sells the Mandarin Oriental Paris building
Paris, 8 February 2013
Société Foncière Lyonnaise today sold the building at 251 rue Saint-Honoré in the first arrondissement of Paris, which is occupied by the Mandarin Oriental Paris hotel and two luxury boutiques, to the Mandarin Oriental Hotel Group.
The sale has been completed on the terms announced in the Company's press release of
29 November 2012.
The net sale price of €290 million was about 30% more than the total cost of the renovated building.
"This transaction demonstrates SFL's ability to successfully carry out complex development projects in the heart of Paris to the very highest standards, and to apply the unique know-how of its teams to an ambitious value-creation strategy," explains Dimitri Boulte, Chief Operating Officer.
SFL was advised by Jones Lang LaSalle Hotels, Gide Loyrette Nouel and Oudot for this transaction, and MOHG was advised by Linklaters and Wargny Katz.
Company: SFL • Nicolas Reynaud • Phone: + 33 (0)1 42 97 01 65 • n.reynaud@fonciere-lyonnaise.com
Media contact: INFLUENCES • Catherine Meddahi • Phone: +33 (0)1 44 82 67 07 • c.meddahi@agence-influences.fr
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