15th Jul 2014 10:56
LONDON (Alliance News) - Starwood European Real Estate Finance Ltd said it had provided a quarter of the EUR99 million worth of refinancing and refurbishment needed for the new W branded hotel located in Amsterdam.
The company said the interest rate for the EUR25 million floats over Euribor and has a term of two years with a one year extension option.
Starwood said the sponsor is Liran Wizman, an hotel operator and shareholder in Grand City Hotels, a European hotel management company.
The refurbished hotel is based on Spuistraat with easy access to attractions including Dam Square.
Following this transaction, Starwood said it has committed all of its net initial public offering proceeds.
Starwood shares were quoted up 0.2% at 103.50 pence Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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