Wiesbaden, 18 December 2013 – Aareal Bank has financed a hotel portfolio of Radisson Blu Edwardian properties for the Edwardian Group London. The portfolio comprises 5 hotels with a total of 996 rooms located in London. The bank acted as lender, arranger and agent for the £175 million, seven-year facility.
Edwardian Group London is a privately-owned, family-run business founded by Jasminder Singh OBE in 1977. The company owns a collection of four and five star luxury hotels operating beneath the Radisson Blu Edwardian London and May Fair brands.
"This deal is characterised by the very good cooperation with our client Edwardian Group London", said Christof Winkelmann, Managing Director Special Property Finance at Aareal Bank. "With this hotel portfolio financing, Aareal Bank once again proved its expertise as an international property financer with special knowledge in the area of hotel financings."
Peter Anscomb, Senior Corporate Director at Edwardian Group London commented, “Our focus was on creating a firm financing platform for the business, so we can move forward on current development projects and other opportunities. Having made the strategic decision to arrange an early refinance of our syndicate facility with individual lenders who have the sector knowledge and appetite to truly support the business going forward, we are delighted with this opportunity to cement a relationship with a team with the pedigree of Aareal Bank. Their understanding of the operational business and the international hospitality markets make them the ideal ‘value added’ lender.”
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