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UK: Investment platform CapitalRise has completed an £8 million facility to fund the creation of a mixed-use, 40-key aparthotel and public house redevelopment on Fulham Palace Road, Hammersmith.
The project represents the first aparthotel scheme supported by the lender, which will be leased to, and operated by Numa.
The deal was introduced to CapitalRise by Dorothée Dembiermont of Voltaire Financial.
Dembiermont said: “This was a transaction that required a lender that could think laterally. CapitalRise’s ability to provide a structured facility here – that a more mainstream lender would have struggled to support – was crucial. The combination of a high-quality operator in Numa Stays, a compelling West London location, and a mixed-use scheme with community benefit ticked many boxes. Voltaire Financial specialises in facilitating these types of structure transaction, and I’m proud of what the team achieved together.“
Katy Katani, director at CapitalRise, added: “It has been a pleasure working with Dorothee and our borrower on this significant project. The scale and mixed-use nature of the scheme required a lender able to respond quickly and constructively, and I’m pleased we could collaborate closely with the borrower and this top tier intermediary relationship to deliver a structure that enables the next phase of this transformative development.”
CapitalRise has previously funded the conversion of a Bloomsbury hotel into 28 self-contained, short-term let apartments, as well as a 23-unit scheme in South Kensington.
Highlights:
- CapitalRise has completed an £8 million loan to fund the redevelopment of a mixed-use scheme featuring a 40-key aparthotel and public house in Hammersmith, west London.
- Numa will lease and operate the new aparthotel on Fulham Palace Road, marking the first aparthotel project financed by CapitalRise.
- Voltaire Financial introduced the financing transaction, with CapitalRise structuring the facility to support the next phase of the development.
- The loan builds on CapitalRise’s hospitality financing activity, following previous funding for short-term apartment developments in Bloomsbury and South Kensington.
