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Aareal Bank AG has agreed a £275m loan facility for two Hilton-branded hotels in Edinburgh and a third in Dublin, with the help of DLA Piper.
The funds will be used to refinance existing debt, whilst the two Edinburgh sites – Curio Collection Caledonia Edinburgh and Hilton Edinburgh Carlton – will undergo extensive renovations, including extensions to guest rooms.
Toby Barker, partner in DLA Piper’s finance practice, led a cross-practice team which comprised lawyers from the firm’s offices in England, Scotland, Ireland and Luxembourg.
Barker said: “This transaction is another significant financing for Aareal Bank with sponsor Henderson Park which we were delighted to advise on.
“The funding for the three Hilton sites, which have been visited by a range of celebrities and world leaders, will enable the operators to renovate and modernise their offering to ensure their competitive advantage is retained.”
