Noble Residence in Lisbon Transformed into High-End Hotel Suites
In an exciting development for the hospitality industry, Commerzbank has announced its role in financing the expansion of Dutch hotel chain, The July. The bank is acting as an agent bank in a deal with The July, providing a significant portion of the funds needed for the renovation of the historic 16th-century Baroness Palace into a luxury apart-hotel.
Located in Lisbon's Largo do Conde Barão, the Baroness Palace will undergo a transformation, becoming a premier aparthotel with 88 units, a restaurant, wellness area, swimming pool, and a 1,200 square meter garden. This project is part of The July's expansion plans for 2026, which also includes new locations in Dublin and Amsterdam.
The July, founded in 2012, specializes in 'premium' aparthotels and currently operates in Amsterdam and London. The syndicated green loan for this operation, totalling 29 million euros, has a term of 15 years.
The deal was facilitated with the assistance of real estate firm CBRE, and it involves negotiating green financing for the conversion of the Baroness Palace. BPI participates in the operation with 14.5 million euros.
Interestingly, The July's expansion plans are not limited to these three cities. Reports suggest that The White Lotus is expanding to France, and The July could be a potential candidate for chosen hotels.
As the renovation of the Baroness Palace progresses, we look forward to The July's entry into the Lisbon and Amsterdam markets. The new locations, scheduled for 2026, are set to offer a unique blend of history and luxury, providing travellers with an unforgettable experience.
