Global alternative investment manager Castlelake has provided a 拢66m (鈧�79.6m) mortgage-backed loan to refinance ProsperCap鈥檚 17-hotel UK portfolio.
Castlelake, alongside existing capital partner AllianceBernstein, funded the loan to refinance a stabilised portfolio of hotel assets located across 15 cities.
The assets in the portfolio include hotels operating under Hilton, IHG and Marriott brands and are located in regional cities such as Manchester, Liverpool, Leeds, Nottingham and Glasgow, Castlelake said.
Eduardo D鈥橝lessandro, Partner at Castlelake, said: 鈥淪ince establishing its presence in Europe in 2006, Castlelake has been an active investor across real estate property types and has executed numerous credit investments in hospitality assets.
鈥淭his transaction is an example of the asset-based private credit solutions that we can provide to borrowers across Europe and the exposure we can deliver to investors.鈥�
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