Real Estate Advisory
Terminal Zero Holiday Inn Hotel
Terminal Zero Development Limited is currently building and will own a 400-room 4-Star hotel at the Murtala Mohammed International Airport (“MMIA” or “the Airport”), Lagos, Nigeria. InterContinental Hotel Group will manage the Hotel under the brand name of Holiday Inn.
TZDL has a 45-year lease on a parcel of land formerly serving as the car park of MMIA in Lagos.
The lease agreement empowers TZDL to build and operate a mixed-use development-comprising hotel, office space, meeting rooms, coffee shops, retail area and multi-level car park.
The 400-room hotel will cost ca. $140.8m and will provide high quality, international standard accommodation with a primary focus on business travelers, travelers in transit and crew members.
Construction has commenced on the project and cost to date comes up to about $57m ( financed by $14m equity and $43m bridge finance from 2 local banks).
Mis Advisory is acting as Financial Advisor and Arranger for the funds needed. These include: $49.3m in equity and $91.6m in debt. The fundraising process is on-going.