FINANCE: Gatehouse Bank is to provide £22.5m of senior debt to Al Dau Development to finance the Holiday Inn London West, Acton, W3.
The recently rebranded 225-bed hotel is located close to North Acton Underground station.
The deal will be the shariah-compliant bank’s second real estate loan after its debut in June with a £11.7m residential development facility to a joint venture between Princeton Property Partners and Resolution Property.
Gatehouse Bank is a senior lender that will lend on ticket sizes of between £5m and £100m at LTVs of up to £85% in the UK, France, Germany, Benelux, Spain and Italy.
