Edmond de Rothschild REIM, through the Edmond de Rothschild European High Yield I Real Estate Debt Fund and a separate fund dedicated to a German insurance group, has provided €28.3 million whole loan financing to refinance and refurbish the Londra Hotel in the centre of Florence.
The Londra Hotel, which is owned by Eurazeo and managed by Grape Hospitality, is located in the city centre of Florence, adjacent to the train station and near to the city’s main cultural sites. The hotel was acquired by Eurazeo in December 2020 and its refurbishment and rebranding into “Indigo” by Intercontinental will see it transformed into a 4-star upscale lifestyle/urban category hotel with 160 rooms. The re-opening of the hotel after the comprehensive refurbishment is planned for Q4 2023.
The financing was structured in the form of senior secured notes into which the two funds are co-investing. Closing was completed successfully as of May 12th 2022.
Read the full press release at the link below