The former Hôtel Saint-James & Albany was built in the 17th century. Credit: Mohari Hospitality/PR Newswire.

Mohari Hospitality and Omnam Investment Group, in collaboration with Paris-based entrepreneur and musician Pharrell Williams, are set to acquire a historic five-star hotel in the city’s 1st arrondissement.

The joint venture (JV) of Mohari, a global investment company specialising in luxury lifestyle and hospitality, and Omnam, a real estate entity, was formalised in July 2022.

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The JV aims to harness the strengths of each group and enhance luxury hospitality, food and beverage, and leisure experiences across Europe.

The acquisition marks a significant addition to the JV’s portfolio of luxury hospitality assets.

The property, formerly known as the Hôtel Saint-James & Albany, is situated within the French capital of Paris’ central district.

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Built in the 17th century, the hotel is located between Rue de Rivoli and Rue du 29 Juillet, on the right bank of the Seine river.

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It is in proximity to several Parisian landmarks, including the Louvre Museum and Tuileries Gardens, and offers views of the renowned Rue Saint-Honoré street.

Mohari Hospitality CEO J Allen Smith said: “This project exemplifies our dedication to identifying and creating unique luxury hospitality projects that deliver unparalleled experiences in the world’s most desirable destinations.

“It is but the latest example of how, in partnership with Omnam, we can apply our market knowledge, operating expertise and industry insight to bring back to life an exceptional property. We intend to honour the property’s extraordinary romantic heritage while creating a new hotel which represents the state-of-the-art of modern luxury hospitality.”

The acquisition was facilitated by legal advice from August-Debouzy, Geller Law and Mediation, and Ashurst, with PWC also providing counsel.

Eastdil Secured, a global real estate investment bank, advised on the transaction, and Apollo Management International affiliates acted as lenders.