Aprirose has completed the £16m refinancing of the Hilton Reading hotel with Mizrahi Tefahot Bank (UMTB).
The purpose-built hotel, which features 210 keys, a bar, restaurant, meeting rooms and a leisure club with an indoor swimming pool, is situated on a business park two miles south of Reading town centre.
The new fixed-rate facility provides stability and certainty for its investors and reinforces Aprirose’s commitment to long term value creation.
Gareth Taylor, head of debt capital at Aprirose, said: “This new relationship adds to our 14 existing lender partnerships, further diversifying our funding base and strengthening our position. We will continue to focus on building strong relationships and delivering sustainable growth across our portfolio.”
Michael Young, head of hotel finance at UMTB’s London branch, added: “We are delighted to welcome Aprirose as a new customer through the successful refinancing of their well-established Hilton Reading Hotel. We look forward to expanding our relationship with Aprirose going forwards. Our team is ambitious to grow its exposure to experienced hotel investors in the UK and Ireland who have senior debt requirements up to £50m, for either refinancing, acquisition or development purposes.”
