Chile:
Host Hotels & Resorts Sells Sheraton Santiago And San Cristóbal Tower
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Claro & Cía has helped a subsidiary of Chilean
financial services group Larraín Vial buy the owner and
lessee of two hotels in Santiago.
Larraín Vial's hotel investment fund bought
Inversiones y Hotelera Host San Cristóbal, the owner of the
two properties, and Hotelera Host San Cristóbal, which holds
the lease for the Sheraton Santiago and San Cristóbal Tower
hotels, both in Chile's capital. The seller, Host Hotels &
Resorts, hired Carey for the US$95 million sale.
Corpbanca supplied a US$230 million loan to the hotel investment
fund to finance the acquisition. The loan was also partly used to
refinance the fund's previous acquisition of other hotels in
Chile. Corpbanca hired Morales & Besa for the loan agreement.
Both hotels are managed by US hotelier Starwoods. The deal was
announced in December; closing is subject to Chilean antitrust
approval.
Counsel to Fondo de Inversión Inversiones Hoteleras
Claro & Cía
Partner Jorge Martin and associate Andrea Sougarret
Counsel to Host Hotels & Resorts
In-house counsel – David Buckley
Carey
Partners Marcos Rios and Lorena Pavic and associates Juan Pablo De La Maza, Camilo Lledó, Fabián Piedra,
Andres Bellagamba and Fernanda Anguita
Counsel to Corpbanca
In-house counsel – Ignacio Herrera
Morales & Besa
Partner Pedro García and associates Antonio Morales, Federico Espinosa and Sofía Duralde
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