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News Release

MENA

JLL Arranges Sale of the Club Med La Plantation D’Albion in Mauritius


​JLL Hotels & Hospitality is pleased to announce the successful sale of the 5-Trident Club Med La Plantation D'Albion located in Mauritius.

Following a comprehensive and global marketing campaign, the resort was sold to a New York based publicly traded REIT for EUR 59M (approx. US$ 73.6M).

The Club Med La Plantation d'Albion is a 5-Trident upper upscale resort commanding an exceptional beachfront location in Mauritius. Spanning over 21.6 hectare land area, the resort includes 266 guest bedrooms further complemented by a diverse selection of Food & Beverage, Leisure and Entertainment facilities. The resort is encumbered with a new 15-year triple-net lease agreement with Holiday Village Management Services Ltd, a subsidiary of Club Méditerranée SA.

Commenting on the sale, Amr El Nady, Vice President JLL Hotels & Hospitality, said, "This is a  major transaction in the Mauritian tourism investment market. It emphasizes on institutional investors' confidence for the Club Med covenant as they continue to seek long term secure product with inflation proof indexation rent reviews. The sale represents a significant milestone for JLL as it follows the sale of Movenpick Mauritius also conducted by JLL in June 2013."

Katell Bourgeois, Senior Vice President JLL Hotels & Hospitality added: "the JLL deal team included members from the Paris, Dubai, Singapore and Johannesburg offices in order to ensure the property is widely marketed to the global investment market. Following an international tender process, the sale generated strong European and US interest but also significant demand from South African institutional investors."

 

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