Queensgate Investments has agreed a £280m refinancing deal with Societe Generale Corporate & Investment Banking for one of the largest hotels in central London.The Property Week
The facility, which has the option of two additional one-year extensions, is secured against Holiday Inn Kensington Forum hotel, which is located near Gloucester Road underground station and is the third-largest hotel in central London, at around 500,000 sq ft and 906 rooms.
Queensgate bought the hotel from Apollo Global Management for £400m in 2015.
Queensgate said the deal capitalised on operational enhancements made by its hotel team, which is headed up by Patrick O’Connell.
“Societe Generale has arranged one of 2018’s largest single hotel financings, underlining the privileged relationship between Societe Generale and Queensgate Investments and the proven turnaround capabilities of the Queensgate operational team,” said Jason Kow, chief executive of Queensgate Investments.