Gatehouse Bank announces completion of Holiday Inn London West financing
Gatehouse Bank plc (“Gatehouse”), the London-based investment bank specialising in Shariah-compliant products and services, is pleased to announce the closure of its largest real estate finance deal to date. The Bank provided £22.5 million senior financing to Al Dau Development to finance the Holiday Inn London West.
The hotel has recently been rebranded and provides 225 high-quality rooms to customers, situated only a two-minute walk from North Acton tube station on the Central line. Excellent transport links put the hotel just 15 minutes away from Central London and 35 minutes from London Heathrow Airport, making it a popular choice for overnight airport stays. In addition to the room facilities, Holiday Inn London West also has conference rooms and an open roof terrace to cater to all types of events.
The deal, which is the second to be completed since the formation of Gatehouse’s Real Estate Finance division, was headed up by the team’s Vice President, Arnaud Schaller.
Natale Giostra, Head of Real Estate Finance at Gatehouse Bank, commented: “I am pleased to announce the closure of the Holiday Inn financing. This is the second financing we have completed to a sponsor who has not specifically required that the financing be Shariah-compliant. This proves once again the competitiveness of Gatehouse Bank in the commercial real estate finance market, putting our Shariah-compliant products on par with those in the conventional lending space.”
Alex Mavridis, the Chief Investment Officer for Al Dau Development said: “Gatehouse Bank has shown to have full appreciation of the dynamics of the hotel sector and through their practical and competitive approach demonstrated to be the best financing partner to assist us with the new phase of the hotel.”