The 24-month refinance and capex facility will support the owner’s refurbishment plans and enable enhanced trading performance once the hotels are repositioned.
The advance is secured against 3 period townhouse properties located on Argyle Square, moments from King’s Cross, which collectively provide 54 keys trading under the Rokxy Hotel Group. The facility’s part rolled interest structure and flexible capex elements give the borrower the ability to focus on executing their vision and establishing a distinctive presence in the marketplace.
Anish Vora, Structured Finance at Topland, commented:
“We are delighted to announce the successful completion of this loan and to be able support a strong sponsor who has a proven track record in the sector and location. The deal adds another quality position to our expanding loan book and continues a successful period for the Group’s division”
Philip Kay, Broker at Arc & Co, added:
“It was a pleasure working with Topland on this transaction. Their streamlined approval processes, speed and flexibility resulted in a perfectly tailored solution for our client. Their sector expertise and focus helped ensure smooth and efficient execution.”ier, Mason Hayes Curran and Shoosmiths represented Topland on legals and CBRE on valuation. Farrer & Co and JW O’Donovan represented the Borrower.
