HIG Capital has provided £76 million in mezzanine financing to UK-based hospitality group Shiva Hotels. The debt is secured against a portfolio of hotel assets in London, including The Guardsman, Buckingham Gate and Middle Eight Covent Garden.
Miami-based HIG has $48 billion of equity capital under management and specializes in providing both debt and equity capital to small and mid-sized companies.
Shiva Hotels was founded by former Lehman Brothers derivatives trader Rishi Sachdev in 2003.
What They Said
Riccardo Dallolio, managing director and head of HIG Europe Realty in London, said: “We believe that London’s 5 star sector will emerge as a winner coming out of the pandemic and that our flexible investing approach across the capital structure has allowed HIG to become a partner of choice for property companies and developers.”
Chris Zlatarev, principal at H.I.G. Europe Realty, said: “We are delighted to partner with Shiva Hotels and have structured tailor-made financing to support the company’s growth. HIG worked with Shiva Hotels and the senior lenders on a financing solution adapted to current market conditions, allowing the company to focus on implementing its business plan.”