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£107.5m refinancing for boutique London hotels
The owners of the Sanderson and St Martins Lane hotels in London have completed a £107.5m refinancing of the properties.
Advised by Jones Lang LaSalle, the joint venture between Morgans Hotel Group and Burford Holdings, which owns the two boutique hotels, has arranged a new credit facility through Citigroup International.
Between them, the two hotels offer 354 rooms.
Morgans Hotel Group owns, acquires and redevelops boutique hotels in gateway cities and resort markets in the United States and Europe. It currently owns or partially owns and manages a portfolio of nine luxury properties.
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