Financing of Le Méridien Etoile, a landmark hotel in Paris

Aareal Bank closed 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.