ESR Europe closes £153m loan for London’s Corus Hyde Park Hotel

International news
The loan provides funding to the MUI Group to refinance existing loans and finance a comprehensive refurbishment of the property.

ESR Europe, the European platform of ESR Group, has arranged a £152.5m commercial real estate loan secured against the Corus Hyde Park hotel in London.

The hotel is located on the north side of Hyde Park, near Lancaster Gate, and benefits from the Paddington basin regeneration. The business plan is to convert the existing 388-key offering to an upper-scale international hotel brand.

The transaction demonstrates ESR Europe’s ability to step into the financing gap left as traditional lenders retrench from the market and support complex business plans with flexible capital and fast closing.