European real estate investor BlueWater Capital and NorthWall Capital have provided 拢310m (鈧�371.7m) in financing to UK hotel owner Shiva Hotels.
BlueWater Capital and the alternative credit specialist provided Shiva Hotels with a 拢170m and 拢140m facility respectively to refinance its existing loan with Cale Street and Crosstree.
Shiva Hotels said that the funding refinances The BoTree hotel in London鈥檚 West End. The proceeds will support the next phase of the hotel鈥檚 capital expenditure programme, which includes the addition of a rooftop swimming pool, a fitness and wellness area and meeting spaces.
Rishi Sachdev, CEO of Shiva Hotels, said: 鈥淲e are thrilled to be establishing two new blue-chip lending partnerships, which will enable us to continue our long-term strategy for The BoTree and our mission of bringing conscious luxury to the market.
鈥淭he BoTree鈥檚 location and future potential, coupled with the hotel sector鈥檚 continued growth, saw us generate interest from a deep pool of funders keen to support us on this transaction. We have remained patient however, and have chosen two like-minded counterparties with the track record and expertise to support us on the next stage of our journey.鈥�
Alexander Garnier, founding partner and portfolio manager at NorthWall, said: 鈥淲e are delighted to partner with Shiva Hotels and BlueWater Capital on this landmark transaction. This partnership underscores NorthWall鈥檚 ability to deliver tailored capital solutions with speed and certainty.
鈥淭his transaction aligns with our strategy to finance top-tier businesses and assets, further reinforcing NorthWall鈥檚 leadership in the alternative credit market, amid increasing opportunities as banks scale back in private credit.鈥�
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