ENP Newswire - 13 June 2014
Release date- 12062014 - Aareal Bank provided a GBP300 million loan to Metropole Hotel Holdings for the refinancing of two Hilton Metropole Hotels based in London and Birmingham.
Aareal Bank acted as lender, arranger and agent for the five-year facility.
Metrople Hotel Holdings is part of the Tonstate Group, a real estate investment firm based in London (UK) with a diverse portfolio of retail, office, hotel and residential assets.
The Hilton London Metropole is a true landmark property. Situated in a central location close to Paddington and Marble Arch. It is the British Capital's largest conferencing hotel and comprises 1,048 guestrooms, 5 food and beverage outlets, a health club and a total of 44 meeting and conference rooms that can host up to 3,000 delegates at the same time. The Hilton Birmingham Metropole is adjacent to Birmingham NEC, one of the UK's busiest exhibition facilities. The property has 794 guestrooms, various food and beverage outlets, a health club and 33 conference and banqueting rooms which can accommodate up to 2,000 delegates.
'We are delighted to work on this financing with the Tonstate Group', said Christof Winkelmann, Managing Director Special Property Finance at Aareal Bank. 'With this loan, Aareal Bank once again proved its expertise as an international property financer with special knowledge in the area of hotel financings.'
Ray Robertson, Institutional and Commercial Operations Director at Tonstate said: 'Working with the team at Aareal Bank was a pleasure. They were extremely professional in their approach and they clearly understand the hotel market very well. This was a very important transaction for us and Aareal Bank assisted in ensuring that it was delivered on time.'