• Secured acquisition through direct relationship with BNP Paribas and Franco-Belgian conglomerates Suez Tractebel Group. Arranged structured finance partially with vendor loan, traditional debt (Aareal Bank) and equity.

Equity partnership

  • 80/20 equity investment between Patron Capital L.P. and a private investor group in an operating partnership.


  • Bifrost was responsible for origination, financing, value creation and active management during the holding period.

Value Creation

  • Directly sourced the acquisition via personal relationship. Raised equity through three parties.Value created by:
  • structured acquisition with €6m vendor loan
  • restructured hotel management fees to be more beneficial to ownership, and
  • unlocked additional value through redesigning interior of the property creating additional 1,000m2 of space, leased additional basement space on long term basis with casino operator.

Property Type

  • Multi-purpose 30,000m2 real estate comprising;
  • Lodging & Hospitality (4-star hotel, 170 rooms)
  • Office/retail 12,000m2
  • City-centre parking (420 under-ground parking places)
Key Facts
Location Bratislava, Slovak Republic
Deal type Asset below intrinsic value/repositioning
Property type Hotel with 30,000m2 multi-use office, retail, hotel and 420 place car park
Closing date June 2014
Origination Banking relationship direct to ownership
Status Sold
Exit date 2006