UK: Lender Virgin Cash has accomplished a £51 million refinancing for the Resort AMANO Covent Backyard in London.
Resort AMANO Covent Backyard marked the primary worldwide opening for the Berlin-based AMANO group, which owns, develops and operates a portfolio of 15 inns.
The London resort was developed by Manex Properties, a three way partnership between AMANO and Excellion Capital. Woods Bagot London Studio was appointed as lead architect and inside designer.
Philip Rokeach, director of AMANO Group, stated: “Resort AMANO Covent Backyard was efficiently launched in 2022 with a imaginative and prescient so as to add the aptitude of Berlin to London’s resort panorama. We have been delighted to see how effectively our new resort idea was obtained out there and happy to see our resort working so efficiently so rapidly.
“This refinancing displays the success of our maiden operation in London, and we sit up for working with Virgin Cash for years to return as we broaden the AMANO resort model right here in London with further acquisitions.”
Robert Stafler, director of AMANO UK and CEO of Excellion Capital, added: “The success of this refinancing and its enticing phrases replicate not solely the energy of the AMANO Group’s operations throughout Germany and the UK, but in addition our wonderful relationship with Virgin Cash. Our new facility helps us in delivering on our formidable progress technique. Resort AMANO Covent Backyard is the primary of a number of resort tasks we’re planning right here in London and we hope this would be the first of many transactions with Virgin Cash.”
Peter Upton, senior director, resort finance, Virgin Cash, stated: “Having visited lots of the AMANO inns throughout Germany, I’m happy to say that AMANO is a implausible resort group. The group’s first UK resort in Covent Backyard is in a high location and has a first-class administration workforce. We’re delighted to help the workforce with this refinancing, underscoring our dedication to the resort lending market within the UK.”
