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New hotel Hyatt Place London City East locks in £85m debt facility in refinancing deal

Hyatt Place London City East – Pocketsquare Rooftop Terrace

New hotel Hyatt Place London City East has secured a £85m debt facility in a refinancing deal as its performance ‘stabilises’ following opening.

CBRE facilitated the deal from an affiliate of KSL Capital Partners to Resolution Property, owners of the recently-completed 280-bedroom hotel in Aldgate, and the first Hyatt Place in central London.

The loan is structured to finance potential operating and interest shortfalls as the property’s performance ‘stabilises’.

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Situated close to London’s financial district, Hyatt Place London City also features a ninth-floor roof-top bar and terrace, two event spaces, an inner courtyard, a gym and a grab-and-go food market.

Scott O’Donnell, COO at Resolution Property commented: “We are pleased to have worked with CBRE on the financing of Hyatt Place London City East hotel. Having successfully opened the hotel on 1 July, refinancing the development loan was the next step in the hotel’s life cycle. CBRE and KSL have worked with us to deliver a financing package that reflects the strong fundamentals of the hotel as well as the unique challenges of opening a new hotel during the early stages of London’s hotel recovery.”

Tags : CBREfinancehotelsHyatt Place London CityKSL Capital Partners
Zoe Monk

The author Zoe Monk

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