Clearwater International France advises Fonciere des Murs (FDM) in the merger by absorption of FdM Management by FDM

Clearwater Advisor

Clearwater International France has advised Foncière des Murs (FDM), leading hotel investment structure in Europe, in the merger by absorption of FdM Management by FDM.

Founded in 2014, FdM Management was an investment structure aimed at acquiring hotels (both lease and operating properties) managed by the major hotel operators. Prior to completion of the merger, FDM held 40.7% of the company.

Through this operation FDM is establishing itself as the leading player in hotel investment in Europe, and is strengthening its growth outlook by:

  • moving the portfolio upmarket, so that it will include 68% of high-end and mid-level hotels,
  • increasing the hotel exposure to Germany (34% of the portfolio, up from 25%), in particular Berlin (15%, up from 8%),
  • strengthening value creation sources and increasing its development capabilities.

Following the completion of the merger, Foncière des Murs’s portfolio value reaches up to € 5bn.

Shareholders also approved the contribution by Caisse des Dépôts of 50% of the share capital of SCI Hôtel Porte Dorée, holding the Motel One asset located in Paris Porte Dorée. Motel One Porte Dorée is a 255-room hotel under development, and will be the first Motel One establishment in France after delivery in April 2018.

The Clearwater International team, led by Laurent Camilli, Managing Partner was composed of Aubert Simonnot, Associate Director, and Pierre-Henri Avalle, Analyst.

“ The merger between Foncière des Murs and FdM Management allows us to continue our expansion in hotel real estate and accompany the growth of our hotel operator partners.”

Dominique Ozanne, CEO, Fonciere des Murs

“ This operation characterises the outcome of the innovative and ambitious strategy led by Foncière des Murs’s management team, working up the industry’s value chain to constitute a European giant.”

Laurent Camilli, Managing Partner, Clearwater International