Cohort Capital completes £18.4m mezzanine facility for hotel refinancing
The London-based real estate lender completed the refinancing within 10 days of being approached.
Cohort Capital has completed an £18.4m mezzanine facility secured against The Stafford London hotel.
The London-based real estate lender completed the refinancing within 10 days of being approached.
The facility supported continued investment in the property, staff and guest experience, while the existing senior lenders remained in place.
It also allowed an outstanding liability to HMRC to be settled in full.
Mahmoud Bakr, director at The Stafford London, said: “This refinancing represents an important milestone for The Stafford and provides a strong platform for the future.
“We are pleased to have partnered with Cohort Capital, whose pragmatic approach, responsiveness and commitment to execution enabled a successful outcome within a demanding timeframe.
“With this refinancing successfully completed and with Kremi McCabe recently joining as General Manager, we look forward with confidence to the next chapter for The Stafford, continuing to invest in the hotel while delivering the exceptional service and experiences for which we are known.”
Robert Pritchard, chief investment officer at Cohort Capital, said: “The Stafford is an exceptional asset with a strong heritage, loyal customer base and experienced ownership team.
“We understood the opportunity quickly, worked constructively alongside the existing lenders and delivered a financing solution tailored to the requirements of the business.
“We are pleased to support The Stafford as it continues to build on its reputation as one of London’s leading luxury hotels.”
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