L&G completes first hotel loan

03 November 2014
L&G completes first hotel loan

Investment and insurance company Legal & General (L&G) has agreed a £37.5m, 10-year loan to Shiva Hotels, secured against the Hilton London Heathrow Airport Terminal 5 hotel.

Built in 2011, the hotel is operated by Shiva Hotels under a franchise agreement, signed with Hilton Worldwide in 2007, to develop 3,000 beds under a variety of Hilton brands by 2017.

Steve Boyle, real estate lending manager at Legal & General, commented: "This is L&G's first hotel lending transaction and offers up a high quality asset in an excellent location, run by an experienced operator.

"In 2014, we have lent in numerous sectors, including social housing, industrial, care homes and now hotels, and continue to strive to broaden our horizons in other sectors, as well as being keen to lend further in traditional commercial areas."

New tricks from the Todiwalas >>

New general manager appointed at Hilton Terminal 5 >>

Hilton Hotel & Resorts, Heathrow T5 >>

TagsFinance and Hotels
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking