Hotel Indigo Adelaide Markets set to open
KCL Law has advised Primefield Property on construction financing for Hotel Indigo Adelaide Markets.
Firms: KCL Law (Primefield Property)
Deal: KCL Law’s banking and finance team advised Primefield Property Pty Ltd on the financing for the construction of Hotel Indigo Adelaide Markets – Adelaide’s newest boutique hotel.
Area: Real estate and property.
Key players: The transaction was led by special counsel Trent Chugg and supported by associate Sophie Boyd and lawyer Chantelle Alberico.
Damien Simonetti, principal lawyer in KCL Law’s construction and infrastructure team, also advised on the transaction.
Deal significance: Adelaide will welcome its first Hotel Indigo in 2020 on Market Street – a vibrant culinary and produce hub in the heart of the city.
“We are delighted to have advised the team at Primefield Property in connection with this prestigious development, which promises to be a fantastic addition to Adelaide Central [Market],” Mr Chugg said.
The new-build hotel will draw the best of the outdoors, indoors, with the boutique hotel rooms inspired by the legendary festivals of the city.
The 16-storey development is being financed by National Australia Bank.
The financing also refinanced a number of other property and corporate facilities held by the Primefield Property/Expconti Group.
“We are looking forward to the opening of our Indigo Hotel Adelaide Markets project later this year. I thank the team at KCL Law, specifically Trent, Sophie and Chantelle, for their professionalism and advice in assisting Primefield secure finance for this landmark project,” Dan Larkey, general manager of Primefield Property commented.
Based in Victoria and part of the Expoconti Group, Primefield Property’s primary focus is on property development.