Henderson Park and Aareal Bank have signed a £275 million financing loan for the Curio Collection Caledonian Edinburgh, the Hilton Edinburgh Carlton and the Hilton Garden Inn Dublin City Centre.
All three hotels are owned by funds managed by Henderson Park and managed by its hotel operating platform Klarent Hospitality.
Both the former Victorian railway hotel Curio Collection Caledonian Edinburgh which overlooks Edinburgh Castle, and the Hilton Edinburgh Carlton located on the corner of the Royal Mile will undergo extensive renovation programmes including guest room extensions.
Aareal Bank acted as the arranger, sole lender, and facility and security agent for the transaction. DLA Piper served as legal advisor to Aareal Bank, with Paul Hastings advising Henderson Park. CBRE acted as Aareal Bank's external valuation advisor.
What they said
Christophe Kuhbier, head of investments, Europe at Henderson Park said: “This financing is an important milestone in our investment strategy for this portfolio and a testament to the quality of the hotels securing the loan and their future potential to be unlocked via Klarent Hospitality’s active asset management. Aareal Bank is an experienced and knowledgeable hotel lender who has been a trusted partner of ours for many years and we are pleased to be working with the team there again.”
Michelle Weiss, head of hotel properties at Aareal Bank added: “We are pleased to continue our long-standing partnership with Henderson Park on this remarkable transaction. This deal showcases our expertise in delivering tailored solutions for high-quality hospitality assets in prime locations.”