Private credit and real estate investor Veld Capital has provided €63m for the refinancing of hospitality assets in the Netherlands.
The credit investment arm of AnaCap Financial Partners said it has provided the senior secured loan to hospitality group Gr8 Hotels to refinance 10 properties.
The assets include affordable accommodation in areas including Amsterdam, Rotterdam, Maastricht and Breda, as well as food-and-beverage offerings.
The portfolio, which was assembled through acquisitions and property development over the past nine years, provides diversified income through both management contracts and standard leases.
This refinancing by will allow GR8 Hotels to continue to “drive its operational performance and benefit from the current positive market dynamics of the Dutch hospitality sector”, Veld said.
Sebastien Wigdo, partner at Veld Capital, said: “The strong quality and performance of the assets, coupled with the current dynamics of the Dutch hotel market, characterised by strong operational growth and limited new supply, make this portfolio an ideal investment for Veld Capital.
“This financing structure illustrates our ability to identify a gap in the market where our capital can be deployed in situations previously covered by traditional lenders. As refinancing requirements expand, we expect to continue to play an active role in both sourcing and executing attractive credit investments backed by high-quality assets.”
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