Hilco Real Estate Finance provides £2.5m third loan for hotel group
By Bridging Loan Directory
Fast-growing specialist bridging lender Hilco Real Estate Finance (HREF) has completed a £2.5m loan to enable the purchase of a 51-bedroom hotel in Coventry.
The loan is secured against a budget hotel property and enables its acquisition by an unnamed investor and hotel group.
It is the third HREF loan to this borrower following loans for the acquisition of hotels in Gloucester and Wakefield.
Sean Adams, Managing Director of HREF, said:
“We’re pleased to have completed another loan for this entrepreneurial hotel group, in a sector where we’ve become increasingly active since our launch.
We understand their business plan and value the trust they place in us to perform.”
A representative for the borrower said:
“It is great to have completed another loan with Hilco to allow the group to expand.
We are already teeing up the next transaction.”
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