News / Edyn secures GBP195 million multi-asset debt facility in Europe

Edyn secures GBP195 million multi-asset debt facility in Europe

🕔 September 9, 2021
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Edyn has announced new acquisitions supported by a GBP195 million (US$268.5 million) multi-asset debt facility with Blackstone Real Estate Debt Strategies, BREDS, in partnership with KSL Capital Partners. The agreement will help secure edyn’s expansion of its portfolio into Europe, including lifestyle aparthotel brand Locke, and serviced apartment brand, Cove. 

Merzak Kaddour, Investment Director at edyn, said:

“We are pleased to partner with Blackstone and KSL whose experience, sector knowledge and capability to transact across multiple jurisdictions made them the ideal funding partner for this transaction. The pandemic reaffirmed that edyn’s products and strategy are meeting the growing demand for high-quality aparthotels and extended stay facilities.”

The multi-asset debt facility contributes to the funding arrangements on five projects with a total of 859 units across The Hague (Cove – Centrum), London (Bermonds Locke, Buckle Street Studios, Cove – Landmark Pinnacle) and Cambridge (Turing Locke/Hyatt Centric). Edyn is expanding rapidly across Europe, which includes seven new Locke openings this year in the UK, Ireland, and Germany as well as two new Cove openings in Canary Wharf and the Liverpool ONE development. JLL acted on behalf of edyn as debt advisor. 

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