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PPHE Hotel Group has refinanced its loan with Aareal Bank for Park Plaza London Riverbank, extending the facility’s maturity from June 2026 to June 2030.
The agreement replaces the group’s existing 2016 loan and maintains secured, non-recourse financing against the hotel.
Under the revised terms, the £95.8m facility will continue to carry an all-in fixed interest rate of 3.248% until June 2026. After that date, 85% of the loan will move to a fully fixed rate of 5.72% until maturity, with a floating rate applied to the remaining portion. The loan will no longer be subject to amortisation, which the company said is expected to offset part of the higher interest costs.
The facility includes loan-to-value and debt service covenants and is secured against Aareal’s existing package, including a mortgage over the hotel.
Daniel Kos, chief financial officer, said the refinancing reflected the group’s ability to secure long-term funding on stable terms.
He said: “This extended facility continues our strong relationship with long-standing lender, Aareal Bank AG. The Group’s high-quality and stable asset base in key city-centre locations, such as Park Plaza Riverbank in London, enable us to secure long term financing on attractive rates.”
PPHE Hotel Group is an international hospitality real estate company, with a £2.2bn portfolio, valued as at December 2024 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.
PPHE Hotel Group has refinanced its loan with Aareal Bank for Park Plaza London Riverbank, extending the facility’s maturity from June 2026 to June 2030.
The agreement replaces the group’s existing 2016 loan and maintains secured, non-recourse financing against the hotel.
Under the revised terms, the £95.8m facility will continue to carry an all-in fixed interest rate of 3.248% until June 2026. After that date, 85% of the loan will move to a fully fixed rate of 5.72% until maturity, with a floating rate applied to the remaining portion. The loan will no longer be subject to amortisation, which the company said is expected to offset part of the higher interest costs.
The facility includes loan-to-value and debt service covenants and is secured against Aareal’s existing package, including a mortgage over the hotel.
Daniel Kos, chief financial officer, said the refinancing reflected the group’s ability to secure long-term funding on stable terms.
He said: “This extended facility continues our strong relationship with long-standing lender, Aareal Bank AG. The Group’s high-quality and stable asset base in key city-centre locations, such as Park Plaza Riverbank in London, enable us to secure long term financing on attractive rates.”
PPHE Hotel Group is an international hospitality real estate company, with a £2.2bn portfolio, valued as at December 2024 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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