Equinox Nepremičnine dd, the first public limited company listed on the Ljubljana Stock Exchange to engage in real estate rental and development, has just negotiated a 20-year strategic lease on the Grand Hotel Union, uHotel and Hotel Lev in Ljubljana.
The agreement was signed with the world-renowned Hotusa group, for a cumulative rent of over €110 million. The operator search was exclusively organized by Cushman & Wakefield.
Equinox Real Estate dd was created as the universal legal successor of UNION HOTELI dd By signing a strategic long-term lease agreement, it completed the restructuring process of Equinox Nepremičnine dd, thus strengthening its financial viability.
Matej Rigelnik, Executive Director of EQUINOX dd said: “The total value is over 110 million Euros over the duration of the contract. In this way, the company ensures even greater financial strength and sustainability in the long term. Furthermore, the company will continue to pursue the goal of democratizing real estate investment in Slovenia, as well as playing an active role in the development of local communities and long-term sustainable business.
Cushman & Wakefield is pleased to have led the operator selection process for Union Hoteli Collection, representing Equinox as exclusive advisor. Its international hotel team used its extensive experience to identify the most suitable operator and negotiate the best commercial terms for Equinox. Company officials strongly believe that Hotusa Group will continue to improve the profitability of this hotel portfolio through its global reach and reputation as a recognized hotel chain with over 40 years of experience.
David Nath, Partner and Head of the Central and Eastern Europe Hotel Team at Cushman & Wakefield added: “We are delighted to have been able to bring the institutional flavor to Union Hoteli Collection. This newly established partnership with Hotusa, a highly recognized hotel operator with over 200 properties in operation, reflects the enduring appeal of Ljubljana’s tourism market and its strong recovery expected after the last two difficult years.