Aareal Bank refinances UK hotel portfolio for Tristan Capital Partners’ Fund Wiesbaden, 7 November 2022 – Aareal Bank has completed a GBP 239.9 million senior loan to refinance the acquisition of a hotel portfolio for an opportunity Fund advised by Tristan Capital Partners, the pan-European real estate investment manager. Aareal Bank acted as sole arranger, facility and security agent for the financing. Earlier this year Tristan’s opportunistic fund European Property Investors Special Opportunities 6 (EPISO 6) acquired a majority shareholding in Raag Hotels Limited which owns the boutique brand “Point A”. Comprising 1,387 rooms across nine hotels in London, Edinburgh and Glasgow, the properties are managed and co-owned by Queensway, a family business specializing in European hospitality real estate and operations. Bettina Graef-Parker, Managing Director Special Property Finance at Aareal Bank, commented: “Hotels in the UK, particularly in London, have been recovering quickly, with performance already nearing pre-pandemic levels, proving the resilience of the sector. We have always believed that quality accommodations for both domestic and international travellers in prime locations will be in constant demand. Hotels therefore remain a key growth driver for Aareal Bank's commercial lending portfolio, and for good reason.” The borrowers were legally advised in this transaction by BCLP, Aareal Bank was advised by DLA and Ogiers for legal matters, while the valuation was carried out by JLL Hospitality.
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End of Media Release Issuer: Aareal Bank AG Key word(s): Real estate
07.11.2022 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Aareal Bank AG |
Paulinenstr. 15 | |
65189 Wiesbaden | |
Germany | |
Phone: | +49 (0)611 348 - 0 |
Fax: | +49 (0)611 348 - 2332 |
E-mail: | aareal@aareal-bank.com |
Internet: | www.aareal-bank.com |
ISIN: | DE0005408116 |
WKN: | 540811 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm |
EQS News ID: | 1480711 |
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1480711 07.11.2022 CET/CEST