Aareal Bank has refinanced the purchase of the Comfort Hotel Vesterbro in Copenhagen for Starwood Capital Group.
The international real estate investor, on behalf of its controlled affiliate and owner of the asset, has taken out a senior loan to refinance the deal.
The hotel is leased to Nordic Choice, one of the largest hotel companies in the Nordics, and managed under the Comfort Hotel brand. It was constructed in 1999. The financing volume amounts to $45 million.
What They Said
Michelle Weiss, head of hotel properties at Aareal Bank, said: “We are very proud to have closed this agreement with Starwood Capital, one of the world's most renowned real estate investors. Their second hotel property transaction in Copenhagen within 2021 confirms their strong belief in the hospitality sector in first-class destinations, which we share.”
Timothy Abram, senior vice president at Starwood Capital, said: “We are delighted to have completed this financing in Copenhagen with Aareal Bank, one of the leading lenders in the European hotel space, and look forward to working on additional hospitality opportunities together in the future.”
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