| Fund | Patron Capital L.P. I |
| Location | Barcelona, Spain |
| Inv. Date | December 2001 |
| Inv. Strategy | Complex Situation |
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Parent company (Sogo) went bankrupt forcing liquidation
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Assets trapped in complex corporate structure with management
contract on hotel
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Via corporate investment, acquisition of mixed use portfolio of
approx. 1.2 million square feet consisting of:
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Deal won "International Hotel Deal of the Year" in 2001 and
Harvard Business School case study notes its success despite
adversity
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Effective exit achieved via sale of office building, land plot,
most of retail, massive underground parking, refinancing of hotel
and sale of approximately 95% of Patron's original interest into
retail limited partnership structure
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2nd refinancing completed early 2006 with proceeds expected in
mid 2006
Hotel Arts Sold! (Press Release) (Spanish Press Articles)
Hotel Arts Spa and Pool
Development
New
Renovation Progresses Well
Hotel Arts Barcelona Website
Harvard Case Study
Purchase Case Study
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