Starz Real Estate, the new commercial real estate lending platform from Sightway Capital, has agreed a double digit million euro loan to finance the Qbic Hotels acquisition and repositioning of the Four Points Brussels.
Financial details were not disclosed.
London-headquartered Qbic, advised by JLL Debt Advisory, will utilise the facility to convert the asset to the Qbic brand and add 20 additional rooms to the existing 128 keys.
The hotel will be formally relaunched in September 2019, with the Brussels location marking Qbic’s second new site since an affiliate of Cerberus Capital Management acquired the business.
Sustainability-focused Qbic incorporates recycled materials and modular elements in the build process, which also reduces construction waste and time spent on site, the firm said.
Limor Shilo,head of origination, Starz Real Estate, commented: 'Qbic Brussels will occupy a highly prominent site near to the prestigious Avenue Louise in the heart of Brussels.
'The prime location and Qbic's differentiated product offering are a compelling combination and one that fits very well with Starz Real Estate. We are looking forward to working with the Qbic team on this and future acquisitions.'
'We are delighted to have completed this financing with Starz Real Estate. Their support gives us the opportunity to expand our eco-friendly, design-led and affordable brand proposition to another exciting location in the vibrant city of Brussels,' said Paul Lewis, CFO at Qbic.
Qbic were advised by BCLP on the financing and Starz by Fieldfisher. C&W provided valuation services.
