Aareal Bank AG
Aareal Bank grants green loan to Cerberus and Highgate
DGAP-News: Aareal Bank AG
/ Key word(s): Financing
Aareal Bank grants green loan to Cerberus and Highgate – Refinancing of Dorsett City London hotel Wiesbaden, 16 September 2021 – Aareal Bank announces the closing of a green financing agreement for a European property. An affiliate of Cerberus Capital Management, L.P. (“Cerberus”) and Highgate received a mortgage loan in the upper double-digit GBP million range to refinance the purchase of the Dorsett City Hotel in London. The 5-year senior loan is collateralised by a property that meets sustainability criteria, which the borrower has committed to maintain throughout the term of the loan. This is the second green loan Aareal Bank has provided according to its Green Finance Framework. The Dorsett City Hotel opened in February 2018 in Aldgate, one of the most dynamic and evolving sub-markets in the City of London. Located in the heart of London’s financial district and at the gateway to vibrant East London, the modern 4-star hotel caters for business and leisure travellers alike. The property spreads across 13 storeys, features 267 rooms and has received a BREEAM Very Good certificate. The BREEAM assessment uses recognised measures of performance to evaluate a building’s specification, design construction and use across eight categories, addressing wide-ranging environmental and sustainability issues. Cerberus is a global leader in alternative investing with over $55 billion in assets across complementary credit, private equity, and real estate strategies. Highgate is a fully integrated real estate investment firm with a primary focus on the hospitality sector, with a current portfolio that includes over 350 properties or 65,000 hotel rooms owned, managed, asset managed or under development throughout the United States, across Europe, and in 15 Caribbean and Latin American countries. “Going green” a matter of impact and business Bird and Bird advised Aareal Bank on legal matters, and CBRE performed the valuation. Photographs for editorial use can be downloaded here. Contacts: Aareal Bank Group
16.09.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Aareal Bank AG |
Paulinenstr. 15 | |
65189 Wiesbaden | |
Germany | |
Phone: | +49 (0)611 348 – 0 |
Fax: | +49 (0)611 348 – 2332 |
E-mail: | aareal@aareal-bank.com |
Internet: | www.aareal-bank.com |
ISIN: | DE0005408116 |
WKN: | 540811 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm |
EQS News ID: | 1233784 |
End of News | DGAP News Service |