ME Asset Management acquires Swansea Premier Inn with loan from ASK Partners
The purchase was supported by a £9.6m senior loan from ASK Partners.
ME Asset Management, through its subsidiary ME Swansea, has bought the 132-key Premier Inn hotel on Swansea Waterfront.
The purchase was supported by a £9.6m senior loan from ASK Partners.
The hotel operates under a long lease to Whitbread plc, with 10 years left.
It is on the waterfront and gets steady demand from tourism, business travel and the city’s regeneration.
For this property, ME Swansea plans façade restoration as part of wider improvements.
Mike Ginsberg, investment manager at ASK, said: “This loan presented an attractive opportunity to finance a well-located, income-producing asset with a strong operator covenant.
“The long lease to Whitbread provides cashflow visibility, while Swansea’s ongoing regeneration creates compelling demand fundamentals for quality hospitality assets.
“We were pleased to support ME Swansea on a transaction that aligns closely with our lending strategy.”
Verender Badial, CEO of ME Asset Management, said: “This acquisition reflects our focus on high-quality, income-producing assets in resilient regional markets.
“Swansea continues to attract significant inward investment, and the Premier Inn is exceptionally well located.
“ASK has been an excellent funding partner, and their understanding of value-add and operational real estate enabled us to execute this transaction efficiently.”
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