Failed MBO prompts Union takeover
Guernsey-based lender Real Estate Debt Securities has taken control of retail investor and hotel development firm Union Hanover Group following the collapse of a management buyout.
The buyout had intended to pay Real Estate Debt Securities back its investment in the business. However, the lender is now conducting a review to decide whether to undertake a strategic disposal of the company’s assets or a restructuring of the business.
Properties in the portfolio include the 249-bedroom Penny Brook hotel in Stratford, E20, and the 180-bedroom, £35m Urban Villa hotel in Edinburgh (pictured).
mike.cobb@estatesgazette.com
Guernsey-based lender Real Estate Debt Securities has taken control of retail investor and hotel development firm Union Hanover Group following the collapse of a management buyout.
The buyout had intended to pay Real Estate Debt Securities back its investment in the business. However, the lender is now conducting a review to decide whether to undertake a strategic disposal of the company’s assets or a restructuring of the business.
Properties in the portfolio include the 249-bedroom Penny Brook hotel in Stratford, E20, and the 180-bedroom, £35m Urban Villa hotel in Edinburgh (pictured).
mike.cobb@estatesgazette.com
Guernsey-based lender Real Estate Debt Securities has taken control of retail investor and hotel development firm Union Hanover Group following the collapse of a management buyout.
