23 September 2009 - Gide Loyrette Nouel advises UFG REM on the acquisition of 158 Accor hotel properties for EUR 272 million:

Gide Loyrette Nouel has advised UFG REM, a leading asset management group, on the sale by Accor of 158 hotel F1 properties.

This sale and variable lease back transaction for EUR 272 million was carried out with a consortium of top-ranking French institutional investors through a real estate collective investment trust (Organisme de Placement Collectif en Immobilier) managed by UFG REM. The acquisition of the properties is being financed by a leasing under the "SIIC 3" regime whose scope was extended to cover this type of transaction under the government's Recovery Plan launched at the beginning of 2009.

The Gide Loyrette Nouel team was led by Laurent Modave, Frédéric Nouel, Antoine de La Gatinais and Hugues Moreau. Notaries acting for the purchaser were Didier Lasaygues (Lasaygues et Associés), Louis Gourret (Office Notarial 14 Pyramides) and Jean-Alain Casagrande (Casagrande et Associés).