London—Dentons has advised Societe Generale, London Branch and HSBC Bank plc on €215 million of investment facilities to Generator Hostels, which is owned by the private equity real estate fund manager Queensgate Investments. Generator Hostels are designed to combine affordable luxury rooms with unique social events for travellers and locals of the cities in which they currently operate across Europe and the US.

Dentons acted for Societe Generale, London Branch as agent, arranger, lender, hedge counterparty and security agent, and HSBC Bank plc as arranger, lender and hedge counterparty. The facilities are being used to refinance Queensgate Investments' acquisition, which completed in May 2017, of 12 hostels in the Generator portfolio (based in eight countries across Europe), as well as finance the remaining development works for the Madrid hostel which is due to open this year.

James Irvine, Dentons Banking and Finance partner who led on the transaction, said, "We are delighted to have advised our key clients Societe Generale, London Branch and HSBC Bank plc on this transaction, which was rewarding and exciting for all those involved and a great way to end 2017 and start 2018. This deal showcases our ability to deliver a multi-jurisdiction transaction across our global firm, where eight Dentons offices were involved."

Alongside James Irvine, the core Dentons team advising on the deal also included Real Estate partner Simon Masri, Tax partner Alex Tostevin, Corporate partner Jayne Schnider, Banking and Finance senior associate James Inghamand associate James Ogden, and Real Estate associate Laura Gowing.

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