Zorin Finance has refinanced a well-established London hotel on a 3-year 69% LTV facility.
Operating under the Travelodge brand, the subject is a modern, purpose-built hotel with 104 guest bedrooms constructed over a ground and five upper floors. Located in Islington, North London, the hotel is centrally located with good access to the tube network. It is also in close proximity to tourist hotspots including the Emirates Stadium and Finsbury Park. London continues to hold global appeal as a destination and hotel performance is encouraging.
Travelodge is the second largest budget hotelier in the UK serving over one million guests per year across 570 hotels.
The hotel is owned by a well established private Real Estate investor who was looking for a long-term financing partner.
Zorin’s investment loans are available up to 5 years with max LTVs ranging from 60% to 75% depending on asset class, and with loan sizes between £2m-£150m. Flexible debt structuring allows for servicing via a combination of interest current and PIK.