The acquisition and reconstruction of a hotel in the neoclassical heart of central Athens, funded by a €12–13m bond loan — part EU-recovery-fund tranche, part bank co-financing — on a twelve-year tenor.
A dedicated vehicle acquired a central-Athens hotel asset for reconstruction, financed by a bond loan of roughly €12–13m from a Greek systemic bank — structured as a concessional EU-recovery-fund tranche alongside a market-rate co-financing tranche, on a twelve-year term with an eighteen-month grace period.
The price was the easy part. The hard part was a tightly conditional drawdown: the purchase, the bank’s mortgage pre-notation, the reconstruction permit and a stack of corporate housekeeping all had to interlock, with the permit as the single gating event before money could flow.
We negotiated and closed the financing package and ran the conditions-precedent matrix to first drawdown — the security, the corporate conditions, the title work and the insurance all sequenced against the bank’s requirements.
The bond loan was signed at roughly €12–13m and the first drawdown sequenced against a fully-mapped conditions-precedent matrix, with a prior bank’s charge discharged from title and a first-ranking pre-notation registered in its place.
The asset is in its reconstruction phase, with the firm continuing to act on drawdown and security.
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