Virgin Money’s specialist Hotel & Real Estate Finance team has completed a £51 million refinancing for the Amano Hotel in London’s Covent Garden.
The facility will support the continued operation and growth of the hotel, which is part of the Amano Group.
The Covent Garden Amano Hotel is a flagship property for the group and the refinancing will allow Amano to optimise its capital structure.
“This refinancing reflects the success of our maiden operation in London, and we look forward to working with Virgin Money for years to come”
Philip Rokeach, director of Amano Group, said: “Hotel Amano Covent Garden was successfully launched in 2022 with a vision to add the flair of Berlin to London’s hotel landscape.
“We were delighted to see how well our new hotel concept was received in the market and pleased to see our hotel operating so successfully so quickly. This refinancing reflects the success of our maiden operation in London, and we look forward to working with Virgin Money for years to come as we expand the Amano Hotel brand here in London with additional acquisitions.”
The transaction was led for Virgin Money by Peter Upton, senior director, hotel finance. He added: “Having visited many of the Amano Hotels across Germany, I am pleased to say that Amano is a fantastic hotel group.
“The group’s first UK hotel in Covent Garden is in a top location and has a first-class management team. We are delighted to support the Amano Group with this refinancing, underscoring our commitment to the hotel lending market in the UK.”
ADVISER & STRATEGIC PARTNER
Excellion Capital, a London-based investment boutique specialising in real estate debt advisory and principal investments, acted as adviser to Amano on this financing. Since the Amano Group’s UK market entry in 2018, Excellion has been its strategic local partner.
Robert Stafler, director of Amano UK & CEO of Excellion Capital, said: “The success of this refinancing and its attractive terms reflect not only the strength of the Amano Group’s operations across Germany and the UK, but also our excellent relationship with Virgin Money.
“Our new facility supports us in delivering on our ambitious growth strategy. Hotel Amano Covent Garden is the first of multiple hotel projects we are planning here in London and we hope this will be the first of many transactions with Virgin Money.”
