UK: London + Regional Hotels (L+R) have received a senior loan from Aareal Bank to refinance the rebranding of the Nobu Hotel London Portman Square.
L+R were advised by Fladgate and Aareal Bank advised by Bird & Bird on the deal. Financing advisory services were provided by Chatham, while Cushman & Wakefield carried out the property’s valuation.
Bettina Graef-Parker, managing director of special property finance at Aareal Bank, said: “We are very proud to have closed another agreement with L+R. Hotels are a very specific asset class that requires careful consideration by both the investor and financier, particularly in the challenging environment of today. L+R and Aareal Bank’s longstanding experience and expertise in hotels continue to enable us to identify opportunities and thrive in the sector.”
Aareal is present across Europe, North America and Asia Pacific. The group provides smart financings, software products and digital solutions for the property sector, including offices, hotels, shopping centres, logistics and residential.
The luxury five-star, 249-room Nobu Hotel London Portman Square opened in May 2021. It marks the third collaboration between L+R and Nobu following openings in Ibiza and Monte Carlo.
L+R invests in and develops real estate properties across the UK, continental Europe, the US and the Caribbean. Its portfolio includes 113 hotels ranging from luxury to economy, comprising around 23,000 rooms.