Kintyre Investments the Frankfurt based real estate and financial advisory business has just completed the debt restructuring of the 241 bed, five star, Sofitel Hotel in Hamburg. Acting on behalf of an offshore private wealth company, Kintyre secured ca. €50m of new long term senior debt facility for the asset through a German mortgage bank, the former lender was Lloyds Banking Group.
Kintyre through its localised German platform was responsible for managing the refinancing process, though utilising their local contact base with German financing institutions to achieve initial lending terms, negotiating the facility agreement (which due to the lender being English and the documents being in German was essential), supporting in the restructure of the hedging instruments, and managing the completion mechanics.
It is the sixth financing deal completed by Kintyre in the past 18 months, with the firm having secured a total €180m in acquisition or restructuring funding within the German market for their offshore clients.