Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Wilde Aparthotels by Staycity London Liverpool Street has received a mezzanine loan facility to support its refinancing from hospitality-focused real estate investment firm Global Hospitality Investment Group (GHIG).
GHIG acted as joint mezzanine lender and mezzanine arranger for the transaction alongside a leading global investment firm.
This financing enables the borrower, Glenwell Group, to refinance its existing development loan from Oaknorth Bank, which matured following the asset’s practical completion in Summer 2024. Alpha Property Lending provided the senior loan facility as part of the overall capital restructuring.
Wilde Aparthotels is a recently developed, 106-key freehold aparthotel located on Middlesex Street in the heart of London, a short walk from Liverpool Street station. It comprises a mix of studio and one-bedroom apartments and features a design-led ground floor food and beverage (F&B) outlet. Additionally, the property benefits from a long-term, institutional fixed lease with Staycity, under their premium Wilde brand, and holds an EPC rating of A.
James Gibbs, managing director and head of Europe at GHIG, said: “Having built a long-standing relationship with Glenwell Group over many years, we are delighted to support them in refinancing this best-in-class asset, which they successfully developed during the challenging Covid period.
“This deal exemplifies our ability to invest across the capital structure and navigate complex situations requiring pragmatic and flexible solutions. This facility provides the borrower with the necessary timeframe for the asset to stabilise and to maximise value over the coming years.”
Sebastien Gottraux, vice president at GHIG, added: “It is great to complete another transaction in the UK following the recently announced Sutton Pointdeal, but this time on the credit side of the balance sheet. We leveraged our deep operational expertise to rigorously underwrite the Wilde by Staycity London Liverpool Street, allowing us to gain comfort with a leverage profile beyond the capability of a traditional lender.”
