DLA Piper advises Aareal Bank EUR140 million Vertiq Capital double hotel financing

DLA Piper has advised German international property specialist Aareal Bank Group in closing its financing agreement with investment manager Vertiq Capital. The two loans, which total EUR140 million, will respectively refinance the 25hours Paris Terminus Nord hotel in Paris, and finance the acquisition of the Bankside Hotel, Autograph Collection in London; the latter qualifies as a Green Loan, under Aareal Bank’s third-party certified Green Finance Framework.

Located in the ten arrondissement of the French capital, the 25hours Paris Terminus Nord is a modern hotel featuring 237 rooms and suites, along with the popular Neni Restaurant and Sape Bar. The Bankside Autograph Collection is a similarly upscale hotel, newly built adjacent the River Thames on London’s South Bank, as part of the One Blackfriars Development. The 161 room property was constructed according to BREEAM Excellent standards and is committed to incorporating sustainability in its day to day operation.

Toby Barker, Real Estate Finance Partner at DLA Piper, comments: “We were pleased to advise Aareal on this significant green loan financing, and demonstrate our expertise in this increasingly important focus area of real estate lending. The deal marks a welcome return to hospitality and leisure acquisition financing which is currently enjoying a strong resurgence after a challenging few years”.

The DLA Piper team, as led by Toby, included Legal Director Sally Whitney, Senior Associates Laura Howard and Leigh Ferris, and Associate Zander Rawlins.