Societe Generale Corporate & Investment Banking and DWS close GBP 280 million refinancing of the Holiday Inn Kensington Forum, London
Societe Generale Corporate & Investment Banking and DWS today announced the completion of the GBP 280 million refinancing secured by the Holiday Inn Kensington Forum initially provided by Societe Generale to Queensgate Investments in July 2018.
The facility is split between the GBP 60 million mezzanine facility fully syndicated to a debt fund managed by DWS, and a GBP 220 million senior facility.
The hotel, ideally located in west London near Gloucester Road underground station, is one of the largest hotels of Central London with over 900 rooms. While offering high redevelopment potential, the hotel already benefits from strong historical performance.
Andrea Vanni, Head of European Real Estate Debt Investments for DWS said “This is an outstanding asset and this transaction reinforces our strong partnership with Societe Generale and Queensgate.”
Pierpaolo Iasci, Head of UK Real Estate Structured Finance for Societe Generale Corporate & Investment Banking said “The asset combines a long track record of stable performance with a strong redevelopment potential. The transaction is an opportunity for Societe Generale to continue to support Queensgate and strengthen our relationship with a key investor like DWS.”
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