European real estate investor BlueWater Capital and NorthWall Capital have provided £310m (€371.7m) in financing to UK hotel owner Shiva Hotels.
BlueWater Capital and the alternative credit specialist provided Shiva Hotels with a £170m and £140m facility respectively to refinance its existing loan with Cale Street and Crosstree.
Shiva Hotels said that the funding refinances The BoTree hotel in London’s West End. The proceeds will support the next phase of the hotel’s capital expenditure programme, which includes the addition of a rooftop swimming pool, a fitness and wellness area and meeting spaces.
Rishi Sachdev, CEO of Shiva Hotels, said: “We are thrilled to be establishing two new blue-chip lending partnerships, which will enable us to continue our long-term strategy for The BoTree and our mission of bringing conscious luxury to the market.
“The BoTree’s location and future potential, coupled with the hotel sector’s continued growth, saw us generate interest from a deep pool of funders keen to support us on this transaction. We have remained patient however, and have chosen two like-minded counterparties with the track record and expertise to support us on the next stage of our journey.”
Alexander Garnier, founding partner and portfolio manager at NorthWall, said: “We are delighted to partner with Shiva Hotels and BlueWater Capital on this landmark transaction. This partnership underscores NorthWall’s ability to deliver tailored capital solutions with speed and certainty.
“This transaction aligns with our strategy to finance top-tier businesses and assets, further reinforcing NorthWall’s leadership in the alternative credit market, amid increasing opportunities as banks scale back in private credit.”
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