Aareal Bank provides financing to Vertiq Capital for two high-end hotels in London and Paris
Wiesbaden, July 6, 2022 – Aareal Bank announces the conclusion of a financing agreement for a total amount of 140 million euros with the investment manager Vertiq Capital. The financing was disbursed in the form of two separate loans, relating respectively to the refinancing of the 25 heures Paris Terminus Nord in Paris and the financing of the acquisition of the Bankside Hotel, Autograph Collection in London. The latter has been assessed and qualified as a green loan under Aareal Bank’s third-party certified green financing framework.
Superbly located in the booming 10e arrondissement of the French capital, the 25hours Paris Terminus Nord is a trendy hotel offering 237 rooms and suites, as well as the famous Neni restaurant and the Sape bar. The Bankside, Autograph Collection is an equally attractive upscale hotel, recently built just beside the River Thames at South Bank as part of London’s One Blackfriars development. The 161-room property was built to BREEAM Excellent standards and is committed to integrating sustainability into its daily operations.
“We are delighted to announce our inaugural transaction with Vertiq,” said Bettina Graef-Parker, Managing Director, Special Property Finance at Aareal Bank. “Despite further political and economic uncertainties, the travel industry has experienced a strong recovery since Covid restrictions were gradually lifted. We are therefore encouraged in our view that the hospitality sector has a high degree of resilience and we We will continue to seek to expand our loan portfolio with carefully selected premier properties in prime locations.”
“We chose to work with Aareal on these loans because of their expertise in hotel finance and their in-depth knowledge and commitment to the hotel market in general. Their ability to work quickly across different jurisdictions under tight deadlines has made it a real pleasure to work with the team at Hotel Aareal,” said Erik Jacobs, Partner at Vertiq Capital.
Vertiq Capital is a real estate investment manager specializing in hospitality and other operational assets. The 25hours Paris Terminus Nord and the Bankside Hotel, Autograph Collection are part of a growing pan-European strategy of investing in high-end lifestyle hotels in key European urban markets. Vertiq will work with various financial partners to execute its investment strategies.
Vertiq Capital Partners was advised by CMS in London and SKBG in Paris. Aareal was advised by DLA Piper and De Pardieu for legal issues and HVS for the valuation.
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Aareal Bank Group
Aareal Bank Group, headquartered in Wiesbaden, is a leading international real estate specialist. It provides smart financing, software products and digital solutions for the real estate sector and related industries, and is present on three continents: Europe, North America and Asia/Pacific. Aareal Bank Group’s business strategy focuses on sustainable business success, with environmental, social and governance aspects being an integral part of this strategy. Aareal Bank AG, whose shares are included in Deutsche Börse’s SDAX index, is the Group’s parent entity. It manages the various entities organized in the Group’s businesses: Structured Real Estate Financing, Banking & Digital Solutions and Aareon. The Structured Real Estate Finance segment encompasses all of Aareal Bank Group’s financing and real estate financing activities. Here, the Bank accompanies its clients in carrying out large-volume tertiary real estate investments. Investment properties mainly include office buildings, hotels, shopping malls, logistics and residential properties, as well as student apartments. In the Banking & Digital Solutions segment, Aareal Bank Group supports companies in the housing, property management and energy sectors as a partner in digitalization – combining extensive advisory services and product solutions with services traditional business banking and deposit taking. Its subsidiary Aareon, the leading provider of ERP software and digital solutions for the European real estate sector and its partners, represents the third business segment. Aareon digitizes the real estate industry by delivering user-centric software solutions that simplify and automate processes, support sustainable and energy-efficient operations, and interconnect all process participants.
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