Specialist hotel lender Leumi UK has agreed a €42.6m (£37.7m) deal to refinance Zetland Capital’s Morrison Hotel in Dublin.
Leumi UK agreed the loan with Centauro Investment XI SARL, a special-purpose vehicle owned by Zetland. The loan has a five-year term.
The property is a 145-room Hilton Curio Collection-branded hotel in Dublin’s city centre. It has a five-star rating.
The hotel recentlyused investment to support ESG-led initiatives, keep costs low and contribute positively to carbon emissions.
Liam Mullans, relationship director at Leumi UK, said: “With Zetland Capital’s strong track record of investing in real estate and with a strong management team in place, this is an excellent opportunity to support an experienced and capable team operating in the UK Hotel market. Leumi UK has an appetite in Europe and Dublin, which is considered to be one of the strongest locations in Europe for leisure and corporate demand, offers a compelling setting for investing in the hotel sector.”
Patrick Joyce, general manager at the Morrison Hotel, said: “Dublin is an extremely attractive tourist hotspot, offering one of the strongest locations in Europe for leisure and corporate demand. Leumi UK’s financial support, alongside the expert advice provided by its hotel finance team, will be invaluable as we continue to expand on the Morrison Hotel’s success as one of Dublin’s finest upper scale hotels.”
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