Certain funds managed by Castlelake, L.P. agreed to acquire a circa 22% stake in Millenium Hotels Real Estate I SOCIMI, S.A. (BME:YMHRE) on July 26, 2021. Also Castlelake, L.P. made the commitment to subscribe up to €180 million in a share capital increase with two execution instalments. Post completion, Castlelake will become the primary shareholder of Millenium Hotels Real Estate and have three seats on its board of directors.

The transaction is expected to close in March 2022. DLA Piper acted as a legal advisor to Millenium Hotels Real Estate I SOCIMI, S.A. Alfonso Ventoso of Uría Menéndez Abogados, S.L.P. acted as a legal advisor to Castlelake, L.P.