Specialist hotel lender Leumi UK has agreed a €42.55m refinancing deal with Centauro Investment XI SARL for the five-star Morrison Hotel in the heart of Dublin city centre.
The five-year loan facility on the 145-room Hilton Curio-branded hotel, has been agreed with Centauro – an SPV owned by London-based private equity firm Zetland Capital.
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 of Morrison Hotel, added: “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 their 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.”
