BRC Property

BRC Property is a prime hotel redevelopment with an existing 275-room hotel and 160-space car park into a mixed-use 60,000 sqm hotel and retail/office/residential project with 600 parking spaces. The asset is ideally located in the heart of the historic city center, in the Bratislava I part of the city, close to the Bratislava Castle and the Danube River. Multiple transport options allow visitors to smoothly reach the nearby airports in Vienna and Budapest.

The property was acquired in 2007 by direct acquisition of over 90% of the shares of the company from a French/Lebanese private owner and sold in 2011. Bifrost was responsible for origination, financing, value creation and active management during the holding period.

During the period of ownership, several value creation strategies were successfully implemented, including acting as a local operating partner to facilitate the closing and manage the investment directly, purchasing additional shares and raising extra debt financing. Value was created through the procurement of additional equity funding to reduce the investors’ equity exposure and the repositioning of under-utilized hotel space to secure short-term non-core revenue. Furthermore, the firm has completed the first two critical stages of the approval process for a major redevelopment (60,000 sqm) utilizing the existing buildings and adjacent land.