Extendam together with the family-owned Annie Famose Group have bought the Radisson Blu hotel in Biarritz from JMA Hôtellerie for an undisclosed amount.
The four-star property has 150 rooms and two restaurants as well as a swimming pool and spa facilities.
The deal was supported by Genefim (a subsidiary of Société Générale) and Arkéa Bank.
Annie Famose Group was established in 1972 by the double Winter Olympic medallist Annie Famose and operates in the ski gear rental and property sectors.
Extendam has a portfolio of 316 hotels in France and Europe, with a total value of €3.5 billion.
Linklaters advised the funds managed by Extendam and the Annie Famose Group on the transaction.
Why it matters
Deals are still few and far between so it's nice to see another one get over the line. Biarritz is obviously a popular leisure destination, which probably underpinned the investment case in this instance.