Starwood European Real Estate Finance invests in Maybourne Hotel Group
Starwood European Real Estate Finance (SEREF) and Starwood Property Trust (STWD) announced Thursday they were investing in Maybourne Hotel Group.
The firms are acting as partners in the five-year £547m refinancing of the group's £147m mezzanine component.
The refinancing has been secured on three five-star luxury London hotels including three of the world’s most renowned hotels, namely Claridge’s, the Connaught and the Berkeley.
SEREF has invested £19m and STWD £30m to the refinancing which comprises of a £400m senior loan and £147m of mezzanine.
SEREF's contribution has been undertaken on a loan at around 50%. The company will earn a double digit yield in line with its investment criteria as outlined in its prospectus.
SEREF is an investment company with a diversified real estate portfolio in the UK and Europe, while STWD focuses on financing and managing commercial mortgage loans and residential related debt investments.
Shares for SEREF were up 0.12% to 102.63p at 15:05 Thursday.