Hilco Real Estate Finance has provided a £6m facility to GSE Property Group, secured against the Hythe Imperial Hotel & Spa in Kent.
The 92-bedroom seafront hotel, which includes a restaurant, bar, meeting rooms, ballroom, spa and leisure amenities, serves as security for the new facility.
The loan allows GSE Property Group to refinance an existing lender and continue investing in what is one of the area’s most prominent hospitality assets.
The borrower, GSE Property Group, is a family-owned operator with a strong presence in the South East and a longstanding relationship with the specialist bridging lender.
Jamie Jolly, managing director at Hilco Real Estate Finance, said: “The property is owned by a very experienced property group and a strong repeat borrower who we have now supported through several loans.
“This loan allows the group to refinance the current lender and further enhance what is already the stand-out hotel and leisure facility in the region.”
A spokesperson for GSE Property Group added: “We have transacted with the team at HREF on several occasions and see them as a much-valued lending partner.”
Valuations for the deal were undertaken by Savills, while legal due diligence was handled by Clarion in Leeds. The transaction was introduced to HREF by Chris Dailly, chief executive of London Bridging Finance.
