Aareal Bank AG has provided a CAD 716 million facility for a Canadian hotel portfolio with the intention to syndicate part of the loan to one or more strategic partners. The borrower is Leadon International Investments.
Aareal Bank acted as Lender, Agent and Administrator for the financing with a five-year term. The portfolio comprises 22 hotels in prime locations with an aggregate of 6,119 rooms across Canada, including major hubs such as Vancouver, Toronto, Montreal, Edmonton, Calgary and Quebec City.
“This deal was characterised by strong and productive cooperation with our client”, said Christof Winkelmann, Member of the Management Board at Aareal Bank. “The landmark transaction is a further milestone for us and substantiates our competence as an international property lender, with an in-depth expertise in hotel financings. Furthermore, this transaction increases our long standing presence in Canada and reiterates our commitment to the property markets in North America.”