Parknasilla Resort and Spa is a 500-acre, four-star hotel resort, with a trading history dating back to the late 19th century.

The facility refinances existing debt and provides the borrower with a stable platform to continue building operational performance and EBITDA.

The transaction was completed within three weeks from approval to drawdown and comes at a time of increased lending activity for Topland.

Sol Zakay, chairman and CEO at Topland, commented: “This deal reflects our continued conviction in asset-backed private credit and our appetite to support high quality sponsors across a range of sectors.

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We remain highly liquid, further reinforced by a spate of successful loan redemptions recently and are exceptionally well-placed to capitalise on high quality opportunities across the market.”

Daniel Eastwood, originator at Topland, added: “This loan is a strong addition to our ever-growing credit portfolio and exemplifies our ability to deploy and recycle capital with speed, precision, and flexibility.

“Parknasilla is a truly iconic asset steeped in heritage, set in an extraordinary location, and offering enduring appeal as a hospitality destination.

“We remain highly active across the market and continue to seek out opportunities to support high-calibre sponsors across real estate sectors.”

Tony Daly, managing director at Parknasilla Resort and Spa, said: “We are delighted to have a highly respected party like Topland working with us at Parknasilla Resort, and for showing trust in our property and the wider hospitality industry.”

James Corrigan brokered the transaction.

Ogier, Mason Hayes Curran and Shoosmiths represented Topland on legals and CBRE on valuation.

Farrer & Co and JW O’Donovan represented the borrower.