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Hospitality group, Edyn has announced that it has secured a £195m multi-asset debt facility with BREDS in partnership with an affiliate of KSL Capital Partners through its European Capital Solutions platform.
The agreement will help with the group’s continued expansion of its portfolio into Europe, which includes lifestyle aparthotel brand Locke, and newly launched serviced apartment brand, Cove.
Furthermore, the facility contributes to the funding arrangements on five projects comprising 859 units across The Hague, London and Cambridge.
Merzak Kaddour, investment director at Edyn, said: “We are pleased to partner with Blackstone and KSL whose experience, sector knowledge and capability to transact across multiple jurisdictions made them the ideal funding partner for this transaction.
“The pandemic reaffirmed that Edyn’s products and strategy are meeting the growing demand for high-quality aparthotels and extended stay facilities. We are excited to push forward with our European growth and look forward to a prolonged working relationship with two of the most highly respected and well-established players in the sector.”
