UK: Global Hospitality Investment Group (GHIG) has provided a mezzanine loan to support the refinancing of Wilde by Staycity London Liverpool Street.
GHIG acted as a joint mezzanine lender and arranger, alongside a global investment firm.
The loan will enable the borrower, Glenwell Group, to refinance its existing development loan from OakNorth Bank, which matured following the asset’s practical completion in the summer of 2024.
The 106-key freehold aparthotel, located on Middlesex Street near Liverpool Street station in London, comprises a mix of studio and one-bedroom apartments and features a ground-floor food and beverage outlet.
It is operated under Staycity’s premium Wilde brand under a long-term, institutional fixed lease. The property also holds an EPC rating of A.
James Gibbs, managing director and head of Europe at GHIG, said: “Having built a long-standing relationship with Glenwell Group over many years, we are delighted to support them in refinancing this best-in-class asset, which they successfully developed during the challenging COVID period. This facility provides the borrower with the necessary timeframe for the asset to stabilise and to maximise value over the coming years.”
Sebastien Gottraux, vice president at GHIG, said: “It is great to complete another transaction in the UK following the recently announced Sutton Point deal, but this time on the credit side of the balance sheet.”
