HFF announces recapitalisation for 48-property hotel portfolio in the United Kingdom
LONDON, ENGLAND – November 6, 2017 – HFF Real Estate Limited (HFF) announces the recapitalisation of the Atlas Hotels Portfolio, a 48-asset, limited-service hotel platform that totals circa 5,800 rooms located throughout England, Scotland and Wales.
The HFF team worked on behalf of the borrower, London & Regional Properties (L+R), to place the five-year, floating-rate loan with Morgan Stanley Real Estate Advisors (Morgan Stanley).
The Atlas Hotels Portfolio comprises 47 Holiday Inn Express Hotels and one Hampton Inn Hotel by Hilton. The borrower purchased the portfolio in 2016 and has been executing a significant expansion plan since acquisition.
The HFF debt placement team representing the borrower included senior managing director Michael Kavanau and director Brad Greenway.
“HFF is extremely excited and privileged to begin a new relationship with L+R while continuing to expand the existing relationship with Morgan Stanley to Europe,” said Kavanau, senior managing director and co-head of HFF’s London office.
“The successful outcome exemplifies our belief that our clients can benefit from the still relatively new debt advisory product in Europe,” added David Church, head of European Corporate Finance and co-head of HFF’s London office.
L+R is a property company based in London, UK, and is regarded as one of the largest privately held property companies in Europe. Founded in 1987 by brothers Richard and Ian Livingstone, L+R has business interests in over eight countries, with offices in London and Panama City. L+R has an extensive hotel portfolio, with more than 11,700 rooms including iconic luxury hotels, full-service hotels, branded hotels and resorts in the Caribbean and Europe and the Atlas Hotel Portfolio. L+R’s hotel investments include the London Hilton on Park Lane, Trafalgar Hilton, The Empire, Cliveden Hotel, Chewton Glen and the Fairmont, Monte Carlo. L+R’s worldwide investment and development programme is in excess of £9.0 billion. Learn more at lrp.co.uk/hotels.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.