EU: Cheyne Capital Management has completed a senior loan of more than €200 million for luxury boutique hotel group Beaumier.
Beaumier, owned by KSL Capital, consists of 12 lifestyle hotels located in France, Switzerland and Spain. The current portfolio comprises 546 rooms, and plans are in place to grow the pipeline with expansion projects and further acquisitions in prime European destinations over the coming years.
The loan, provided by funds managed and advised by Cheyne’s real estate group, will be used to refinance the existing bank facilities and support a CapEx (capital expenditure) programme to enhance the Beaumier experience.
Antoine-Julien Richard, loan originator at Cheyne Capital Real Estate, said: “This pan-European facility embodies one of Cheyne’s overarching investment theses: to finance unique hotels managed by a strong operator and located in prime leisure markets. We believe such assets offer both resilience to market volatility and further growth potential. The combination of Beaumier’s expertise in managing and repositioning hotels, coupled with KSL’s extensive track-record and market leading position in the leisure hospitality sector, was a key lending criterion for us.”
Oriane Emsalem, CFO at Beaumier, added: “We are thrilled to be working with Cheyne Capital as a financing partner, whose commitment is aligned with Beaumier’s growth strategy. This partnership will allow us to increase focus on the repositioning of our hotels in the Luberon and Wengen, as well as the expansion of the brand through future strategic acquisitions in high-end European leisure destinations with a mission to offer our guests an intimate, authentic experience while connecting with nature.”
Beaumier and KSL were advised by Hogan Lovells, Deloitte and Monassier. Cheyne was advised by Allen & Overy Paris and Madrid as legal counsels and Étude Lasaygues as notaries in France.
Cheyne Capital is an alternative investment manager headquartered in London. Real estate investments account for approximately half of the firm’s ~$10 billion under management and span direct real estate lending, securitised European real estate debt and selective special situations, including impact real estate investing in affordable and specialist housing.