Wiesbaden, 6 July 2022 Aareal Bank announces the closing of a financing agreement totalling 140 million with investment manager Vertiq Capital. The financing was disbursed as two separate loans respectively entailing the refinancing of the 25h ours Paris Terminus Nord in Paris and the acquisition financing of the Bankside Hotel, Autograph Collection in London. The latter was assessed and qualified as a Green Loan under Aareal Bank’s third party certified Green Finance Framework.
Superbly located in the up and coming 10 th arrondissement of the French capital the 25 hours Paris Terminus Nord is a trendy hotel featur ing 237 rooms and suites, along with the popular Neni Restaurant and Sape B ar The Bankside Autograph Collection is a similarly attractiv e upscale hotel newly built just off the R iver Thames in South Bank as part of the One Blackfriars Development of London. The 161 room property was constructed according to BREEAM Excellent standards and is committed to incorporating sustainability in its day to day operations
“We are pleased to announce our inaugural transaction with Vertiq” stated Bettina Graef Parker, Managing Director, Special Property Finance at Aareal Bank “Despite new political and economic uncertainties, t he travel industry has seen a strong recovery since Covid related restrictions have been gradually lifted. We are therefore strengthened in our view that the hotel sector has a high degree of resilience and will continue looking to expand our loan portfoli o through carefully selected top tier properties in prime locations.”
“We have chosen to work with Aareal on these loa ns because of their expertise in hotel financing and in de pth knowledge of and commitment to the hotel ma rket in general Their ability to work swiftly in different jurisdiction s against a tight timeline has made it a real pleasure to work with the Aareal hotel team said Erik Jacobs, Partner at Vertiq Capital.
Vertiq Capital is a real estate investment manager with a focus on hospitality and other operational asset s The 25h ours Paris Terminus Nord and the Bankside Hotel Autograph Collection are part of a growing pan European strategy to invest in upscale lifestyle hotels across the key urban markets in Europe. Vertiq will work with various capital partners to execute its investment strategies.
Vertiq Capital Partners was advised by CMS in London and SKBG in Paris Aareal was advised b y DLA Piper and De Pardieu for legal matters and HVS for valuation.
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