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The debt will finance the environmental upgrade of half of Archer Hotel Capital’s assets.
The German lender revealed plans to expand its loan portfolio to €37bn by 2027.
The assets consist of two Spanish hotels and one situated in the UK.
The financing issued by the Wiesbaden-headquartered lender will enable the owner to undertake extensive renovation work.
Large volumes of hospitality transactions across Europe have positively affected lending activity.
Hotel Marjan is set for a modern revival under Maistra Hospitality Group, backed by a €200m sustainability-linked loan from the IFC.
Three Stars Capital Partners’ Mauro Savoia highlights the resurgence of hotel opportunities for investors and debt providers following the covid crisis.
The hospitality deal represents the manager’s biggest loan of 2024 so far.
The manager has provided the financing to Malaysian company MUI Group.
The loan, provided alongside two other banks, is secured against a cross-border portfolio.