ASSET MANAGEMENT &
HOTEL DEVELOPMENT
IBIS JAKARTA SENEN
155-key full service hotel located in Central Jakarta, with close access to government agencies and state-owned enterprises. The hotel had its grand opening in September 2013 and has 5 meeting rooms.
KURETAKESO JAKARTA KEMANG
108-key full service hotel located in South Jakarta, with close access to Jakarta’s nightlife and CBD. The hotel has its grand opening in December 2018 and has 4 meeting rooms, gym, Japanese onsen, and rooftop bar.
IBIS GADING SERPONG
209-key full service hotel located in the CBD of Gading Serpong, a fast-growing city in Greater Jakarta. The hotel had its grand opening in September 2014 and has 8 meeting rooms, including a grand ballroom.
ADVISORY CASE STUDY
Restructuring of non-performing loan
SITUATION AND COMPLICATION
Indonesian real estate developer had a portfolio of loans under default with local Indonesian bank
Prime asset includes a 4-star beachfront hotel in Bali
Investor was an established real estate private equity fund but was new to Indonesia
Hostility and lack of trust between counterparties
Bankruptcy lawsuit was launched against developer, leading to legal concerns on validity of purchase
RESOLUTION
Completed transaction that involves separate agreements between the investor with the bank and with the seller
Coordinated comprehensive due diligence involving financial, legal, and technical
Timeline of transaction was 6 weeks from start to end
MAN Real Estate was trusted advisor to the investor and seller, as well as gained credibility with Indonesian bank