Fattal Hotel Group, leading hospitality brand across Europe, the UK and Israel, has secured a £525 million loan from alternative asset manager Cheyne Capital to support the refinancing of four London hotels.
In addition to its own funds, Cheyne's partner Migdal Insurance Company also participated in the refinancing.
The four hotels in question are the Leonardo Royal Hotel London City, NYX Hotel London Holborn, Leonardo Hotel London Tower Bridge and Leonardo Royal Hotel St. Paul's, all acquired by the Fattal Hotel Group in 2019 and operating under the European brand Leonardo Hotels.
With over 1,300 rooms available, these hotels have undergone a renovation that includes meeting and event spaces, restaurants, bars, swimming pools, spas, therapy rooms and gyms.
Fattal European Partnerships' M&A Director expressed his satisfaction in partnering with Cheyne Capital who brought his exceptional experience to this significant high-profile financing for the group's beautiful hotels in London.
This collaboration with Migdal Insurance Company is a confirmation to the confidence in Fattal Hotel's operational and hospitality services platform, ensuring that we continue to elevate our offering in this bustling city.
Cheyne Real Estate's Head of UK Investment said this refinancing is by far one of the largest in 2024 and demonstrates that the company's ability to execute high-quality, large-scale transactions.
Fattal Hotel Group is a top-tier operator and financing partner willing to step up when needed and the hotel market in London is proving to be an attractive investment as it continues to recover after the pandemic and similar investments will continue to be sought.
The Chief Investment Officer of Migdal Insurance Company commented that the company is pleased to partner again with Cheyne Capital in this exciting refinancing of a world-class hotel portfolio managed by Fattal Group in major tourist destinations.
Together with a long-standing partner such as Cheyne Capital, Migdal Insurance Company's expertise in real estate investment aligns perfectly with supporting the growth of companies such as Fattal Hotels, who are confident that these London hotels will continue to thrive over time while continuing to offer excellent returns for policyholders.
Link : https://boutiquehotelnews.com/news/industry/fattal-refinancing-cheyne/
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