Laxfield Capital has arranged a 20-year senior £200 million refinancing package for Edwardian Group London, which manages 14 hotels.
Laxfield arranged the loan on behalf of the loan’s financier MetLife. The loan is secured against properties in Manchester and London, according to a statement released Wednesday by Laxfield.
“We are committed to establishing strong relationships with top-tier real estate owners of core assets,” said Paul Wilson, MetLife’s managing director or real estate in the UK. “We are excited to be financing Edwardian’s May Fair, Heathrow and Manchester hotels as a key long-term component of the group’s overall refinancing program.”
Laxfield had not responded to a request for comment at press time.
In addition to the MetLife-backed refinancings, Aareal Bank also announced on Wednesday that it had provided a £175 million, seven-year facility to a portfolio comprising of 5 hotels with a total located in London. The bank acted as lender, arranger and agent for the facility.
CoStar has reported that Edwardian also obtained a second, £28 million seven year facility secured against Radisson Blue Edwardian Berkshire and that the company has also negotiated a “reset” with its core lender HSBC, which reportedly reset its legacy £130 million syndicate facility to £47 million.
A spokesperson for Edwardian was unavailable for comment.
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