ESR Europe, the European platform of ESR Group, has arranged a £152.5m commercial real estate loan secured against the Corus Hyde Park hotel in London.
The loan provides funding to the MUI Group to refinance existing loans and finance a comprehensive refurbishment of the property. The 388-bedroom hotel is located on the north side of Hyde Park, near Lancaster Gate.
MUI plans to upgrade the hotel to an “upper-scale” international hotel brand.
George Cotterell, managing director, debt investments at ESR Europe, said: “The current market continues to provide attractive investment opportunities especially for refinancings as traditional lenders look to exit legacy positions.
“This transaction demonstrates our commitment to supporting value-add sponsor business plans, secured against high-quality real estate with strong underlying fundamentals and we are excited to work with the Corus team on this important project.”
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