-
Asset:
W Ibiza
-
Loan Amount:
Undisclosed
-
Year:
2019
-
Client:
Santa Eulalia Holding
- The private hotel group owner and developer of the W Ibiza instructed us to refinance the development loan we had arranged 2 years ago.
- The new term facility will take out the construction loan that financed the demolition and reconstruction of the property into the modern, stylish W Ibiza hotel.
- The new facility will also finance the redevelopment of 3 other properties adjacent to the hotel that will be used in part to support the operation of the hotel.
- The W Ibiza is the first global luxury brand to open in Ibiza and a natural fit for the island. The 162-keys hotel has a stunning beach-front location and offers guests 3 dining concepts including the signature W Living Room, a rooftop pool & bar, night club, 4000 sf spa, FIT gym and kids club.
- We structured a highly competitive whole-loan with DRC Capital, the UK debt fund, which will allow the owners to achieve stabilisation of the hotel and finalise development of the adjacent properties.
