Aareal Bank signs € 210 million loan agreement for landmark hotel in Paris

Wiesbaden, 14 September 2023 – Aareal Bank announces the closing of a financing agreement with Henderson Park, the private real estate investment fund manager. The € 210 million senior facility was used to refinance Le Méridien Etoile, a historic upscale hotel located in the heart of Paris.

Initially built in 1972 by Air France as its flagship hotel to lodge its pilots, Le Méridien Etoile was well-known for its Jazz Club Etoile, recognised as France’s most reputed jazz bar at the time. Today, it is the largest hotel and conference centre in France, and one of the largest in Europe. Located directly opposite the Paris Convention Centre and in close proximity to the capital’s La Défense business district, as well as tourist attractions including the Champs-Elysées and Arc du Triomphe, the hotel caters to both business and leisure travellers and is operated by Marriott International under its Le Méridien brand.

Henderson Park acquired the asset after its reopening in October 2016, following a substantial renovation with extensive upgrades made to the rooms as well as to the banqueting and conference facilities. It was the first deal for the then-new European real estate investment platform founded by Nick Weber. To date, Henderson Park has invested approximately USD 13 billion in building a portfolio of flagship real estate assets across Europe.

“We are extremely pleased to have closed this financing with Henderson Park, a prominent player in the industry,” stated Bettina Graef-Parker, Managing Director Special Property Finance at Aareal Bank. “We are delighted to continue our fruitful relationship and to support them on yet another great financing.” 

“We were again impressed by the expertise, speed and professionalism of the Aareal Bank team regarding the local market and the specifics of this unique hotel property,” says Christophe Kuhbier, Managing Director at Henderson Park.

DePardieu provided legal advice to Aareal Bank, while Henderson Park was advised on this transaction by Jones Day and Stibbe.

Contact:

Jasmin Maraslioglu
Phone: +49 611 348 2951
Mobile: +49 175 195 7649
jasmin.maraslioglu@aareal-bank.com

About Aareal Bank Group – 100 years of Aareal Bank. 100 years of writing success stories.

Aareal Bank Group, headquartered in Wiesbaden, was founded 100 years ago and has since become a leading international property specialist. The Bank uses its expertise to identify trends, challenges and opportunities at an early stage, and to exploit them for the benefit of its stakeholders. Today, it offers smart financing, software products and digital solutions for the property sector and related industries, and is present across three continents: Europe, North America and Asia/Pacific. Aareal Bank Group’s business strategy focuses on sustainable business success, with environmental, social and governance aspects as an integral part of this strategy.

Aareal Bank AG comprises the business segments Structured Property Financing, Banking & Digital Solutions and Aareon. The Structured Property Financing segment encompasses all of Aareal Bank Group’s property financing and funding activities. Here, the Bank supports its clients in making large volume commercial property investments. The investment properties mostly comprise office buildings, hotels, shopping centres, logistics and residential property, as well as student housing. In the Banking & Digital Solutions segment, Aareal Bank Group supports businesses from the housing, property management and energy industries as a digitalisation partner – combining extensive advisory services and product solutions with traditional corporate banking services and deposit-taking. Its subsidiary Aareon, the leading supplier of SaaS solutions for the European property sector, represents the third business segment. It is digitalising property management by offering user-oriented software solutions that simplify and automate processes, support sustainable and energy-efficient operations, and interconnect all process participants.