Cheyne Capital has made its second real estate transaction in Finland with the provision of a €62m loan to Samla Capital to finance a hotel redevelopment.

The global alternative asset manager said the senior loan will be used to redevelop The Hotel Maria five-star hotel in Kruununhaka, Helsinki. The hotel is expected to open in December 2023.

Samppa Lajunen, founder and portfolio manager of Samla Capital, said: “Luxury tourism is a growing market and the demand for hotels that meet this need is also emerging across Finland. We are pleased to be partnering with Cheyne Capital, who understands the value of The Hotel Maria’s concept and the luxury hotel sector.”

In a joint statement, Daniel Schuldes and Michael Fournier of Cheyne Capital said: “As a firm, we continue to see attractive lending opportunities in the luxury hotel sector as consumers seek out enhanced lifestyle experiences.

“We’re therefore proud to support Samla Capital Oy with the financing of this prestigious project and look forward to the delivery of a world-class hotel in Finland.”

To read the latest edition of the latest IPE Real Assets magazine click here.