Pricoa Mortgage Capital has arranged a £103m loan to refinance the hotel on Aldwych, WC2.
It is the first loan under Pricoa’s £500m Friends Life investment mandate. The hotel is owned by the Bhatia family, which bought it in 2007.
The 15-year, fixed-rate loan will refinance existing debt. It is the seventh commercial real estate loan arranged by the commercial mortgage lending arm of US-based Prudential Financial since launching its European business in 2012.
Bridget.O’Connell@estatesgazette.com
