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DWF advises Gizmo Invest on the sale of Le Grand Jardin, a historic property on the Lérins Islands

06 August 2020

DWF have advised the Luxembourg-based Gizmo Invest, on the sale of Le Grand Jardin, a unique private property located on the Sainte-Marguerite Island off the bay of Cannes, to the French subsidiary of Ultima Capital SA, a Swiss luxury real estate owner, developer and operator listed on the Bern Stock Exchange.

 

It is anticipated that major renovations will be carried out in order to make this property an exclusive resort on the French Riviera. Ultima Capital holds and develops a portfolio of high-end real estate assets consisting of 42 hotels, residences, chalets, villas and land in locations such as Crans-Montana, Gstaad, Geneva, Cannes, Courchevel, Megève and Corfu.

Ultima Capital became the owner of Le Grand Jardin, after its recovery plan of the property holding company was approved by the Commercial Court of Cannes.

DWF advised Gizmo Invest with a team consisting of Anne-Sylvie Vassenaix-Paxton, partner, and Rose Ngalako, associate.

The law firms Cabinet Ghigo (Frank Ghigo) and Cabinet Kraus (Albin Kraus) also assistedGizmo Invest.

Ultima Capital was advised by Allium (Julien Rivet), Renault Thominette Vignaud & Reeve (Audrey Obadia-Zerbib and Jason Reeve), Hoche Avocats (Jérôme Mas) and Reboul & Associés (Vaea Pery).

 

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