Tyrus completes 1st hospitality investment since onset of Covid-19

Tyrus has partnered with real estate investment company Aprirose, which announced the acquisition of the hotel in February 2022. Selsdon park houses 151 keys with extensive facilities including an indoor and outdoor swimming pool, gym, squash courts, and multiple restaurants. The deal marks Tyrus’ first investment in the hospitality sector since the onset of Covid-19.
 
Imo Skrzypczyk, co-head of Teres, said: ‘We are delighted to have made our first investment in the hospitality sector since the onset of Covid-19. Historically, Teres has been a very active investor in the asset class, however, we came into Covid with only two exposures, one of which has successfully realised since. Now we are excited to target further hospitality investments both in the UK and on the Continent as the sector continues to rebound in the post-pandemic environment.’
 
Jonathan Black, principal at Teres, added: ‘This was a great transaction to work on. The deal has strong fundamentals, is well located, and has a strong sustainability angle. Aprirose has very talented people working on this project, and it was great to work with them closing this transaction. We closed the deal over a hectic Christmas period and in a timely manner thanks to Osborne Clarke, Savills, and the deal team at Aprirose. We’re very excited to be part of Aprirose’s journey and look forward to the next one.’
 
The investment is part of TERES’ deployment of €180 mln across seven investments for its opportunistic credit strategy over the past ten months. Other notable investments include a €35 mln whole loan secured by residential apartments at the Finca Cortesin luxury resort in the South of Spain; a €34 mln mezzanine investment towards a residential project in Berlin and a €20 mln whole loan for the refinancing of two purpose-built student accommodation assets in North-West Germany.