Aareal Bank has refinanced Metropole Hotel Holdings’ two Hilton Metropole Hotels with a £300m five-year senior loan.
The £300m senior debt facility refinances the Hilton London Metropole, situated between Paddington and Marble Arch, and the Hilton Birmingham Metropole, adjacent to Birmingham NEC.
Aareal Bank acted as lender, arranger and agent for the facility.
“We are delighted to work on this financing with the Tonstate Group”, said Christof Winkelmann, managing director special property finance at Aareal Bank in a statement. “With this loan, Aareal Bank once again proved its expertise as an international property financer with special knowledge in the area of hotel financings.”
Hilton London Metropole is the British Capital’s largest conferencing hotel and comprises 1,048 guestrooms, 5 food and beverage outlets, a health club and a total of 44 meeting and conference rooms that can host up to 3,000 delegates at the same time.
The Hilton Birmingham Metropole has 794 guestrooms, various food and beverage outlets, a health club and 33 conference and banqueting rooms which can accommodate up to 2,000 delegates.
Ray Robertson, Institutional and Commercial Operations Director at Tonstate added in the statement: “This was a very important transaction for us and Aareal Bank assisted in ensuring that it was delivered on time.”