Queensgate Investments has completed a refinancing of two of its Generator properties in the US for around $55 million in a deal with funds managed by Apollo.
The news follows a circa €600 million debt restructuring for Queensgate’s Generator Group, a lifestyle hospitality platform which owns, operates and develops assets across Europe and North America, for which Apollo funds provided nearly €100 million in secured financing earlier this year.
The recent refinancing deal concerned two properties located in Miami and Washington, DC.
The Generator Group consists of 19 hotels/hostels, totalling nearly 11,500 beds across 17 cities and 10 countries.
What They Said
Jason Kow, CEO of Queensgate said: “Queensgate Investments is pleased to continue our successful capital partnership with Apollo providing competitive, well-structured financing for the Generator Group.”