Molinaro Koger Arranges Re-Financing for Canyon Equity’s Amanresort Le Mélézin
WASHINGTON, DC, October 30, 2007. The Capital Markets Group of Molinaro Koger (MK Capital Markets) announced today they have arranged a EUR20 million re-financing for Amanresorts Le M'el'ezin in Courchevel 1850 in the French Alps on behalf of the resort's existing owner, Canyon Equity. The funding was provided by Europe Arab Bank plc. In 2006, MK Capital Markets handled the financing for the original purchase on behalf of Canyon Equity, securing funds through Bear Stearns.
"First class brand management, the finest facilities, an excellent location and a strong historical financial performance clearly make Le M'el'ezin a solid financing opportunity," said Ed Blum, Managing Director of MK Capital Markets. "The property has consistently realized occupancy levels in the mid 90 percent range, with ADRs currently exceeding EUR1,000."
The luxury ski resort, which was designed by Ed Tuttle, is managed by Amanresorts. The ski village of Courchevel 1850 is situated in the heart of Les Trois Vall'ees, home to eight internationally renowned and several smaller ski resorts.
Based in Larkspur, California, the Canyon Group of Companies specializes in global acquisitions and the development of luxury boutique hotels and resorts in the U.S., Europe and Asia. Since it formed in 2005, the company has acquired a portfolio with a combined value exceeding $350 million, including Amagani Resort, Wyoming; Jean-Michel Cousteau Resort in Fiji; Amagiri Resort, Utah; and Papagayo Peninsula, Costa Rica.
During the last 12 months MK has structured more than $4.2 billion in hotel real estate transactions and funding worldwide. For further information about this transaction and MK's capital markets expertise, please contact Ed Blum of MK's Capital Markets Group at 703.760.9600 or via www.mkhotels.com.
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