MUI Group has arranged a £152.2m commercial real estate loan with ESR Europe secured against the Corus Hyde Park hotel in London.
The group will use the funding to refinance existing loans and finance a comprehensive refurbishment of the hotel, which is located on the north side of Hyde Park, near Lancaster Gate.
George Cotterell, managing director, debt investments at ESR Europe, said: “The current market continues to provide attractive investment opportunities especially for refinancings as traditional lenders look to exit legacy positions. This transaction demonstrates our commitment to supporting value-add sponsor business plans, secured against high quality real estate with strong underlying fundamentals and we are excited to work with the Corus team on this important project.”
Paul House, co-head of debt Investments at ESR Europe, added: “We are delighted to support the MUI Group with this transaction, marking another milestone in our over 10-year track record of deploying our investors’ capital into high-quality debt investment opportunities.”
David Yeadon, from SPF Private Clients’ debt advisory team, said: “It has been a pleasure dealing with the highly professional team at ESR Europe to deliver a funding solution for our client the MUI Group, to facilitate this highly prestigious and exciting hotel development project.”
