Ares Management Corporation’s European Real Estate Debt team has provided a £300 million senior loan to refinance a portfolio comprised of two marquee central London assets.
Located in the heart of New Bond Street, 21-23 New Bond Street is ideally positioned among the main shopping strip of major international luxury goods and fashion brands. The property is the global flagship of Burberry Limited, which is currently undergoing a transformative refurbishment that is expected to be completed this summer.
Additionally, the portfolio includes Hilton London Kensington, a 601-room, four-star hotel centrally located at 179-199 Holland Park Avenue, West Kensington.
“This investment highlights the demand for flexible, creative financing solutions in the current market given rising interest rates and pullback from traditional lenders,” said Philip Moore, Partner and Head of European Real Estate Debt in Ares Real Estate.
“We are excited to support this portfolio of high-quality assets with prime locations and long-term tenants. We believe that this is a great example of the role that private credit providers can play in stepping in to provide liquidity during a broader credit tightening.”
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
