Real estate lender Cohort Capital has completed a £18.4m mezzanine facility secured against The Stafford London hotel in St James’s.
The refinancing of the 106-key luxury hotel, which was completed within 10 days, supports The Stafford’s long-term plans, backing continued investment in its property, people and guest experience, while existing senior lenders remain in place. The transaction also enabled an outstanding liability to HMRC to be settled.
Mahmoud Bakr, director of The Stafford London, said: “This refinancing represents an important milestone for The Stafford and provides a strong platform for the future. We are pleased to have partnered with Cohort Capital, whose pragmatic approach, responsiveness and commitment to execution enabled a successful outcome within a demanding timeframe. With this refinancing successfully completed and with Kremi McCabe recently joining as general manager, we look forward with confidence to the next chapter for The Stafford, continuing to invest in the hotel while delivering the exceptional service and experiences for which we are known.”
Robert Pritchard, chief investment officer at Cohort Capital, added: “The Stafford is an exceptional asset with a strong heritage, loyal customer base and experienced ownership team. We understood the opportunity quickly, worked constructively alongside the existing lenders and delivered a financing solution tailored to the requirements of the business. We are pleased to support The Stafford as it continues to build on its reputation as one of London’s leading luxury hotels.”
