Cohort Capital and King Street Capital Management complete £348m loan for London hotel refinance

The transaction refinances debt initially provided by Cale Street Partners and continues Cohort Capital and King Street’s partnership with the property’s long-term owners.

Park Tower is a 16-storey property built in 1973 that includes a casino and the Nusr-Et restaurant.

The hotel is Cohort Capital’s largest loan to date and marks the second collaboration with King Street Capital.

Rob Pritchard, chief investment officer at Cohort Capital, commented: "Park Tower represents a combination of scale and high repositioning potential in London’s prime hospitality market.

“Our approach supported the sponsor’s strategy and enabled us to structure a facility that unlocks the asset’s long-term value.

“This transaction underscores Cohort’s ability to execute on complex, large-scale financing in partnership with leading institutional stakeholders and reflects our growing capacity to support borrowers across the UK real estate market."

Paul Brennan, partner and co-head of real estate at King Street Capital Management, said: “This transaction plays to our structuring expertise and focus on high-quality hospitality and residential opportunities with disciplined execution.

“We’re pleased to partner with Apollo and Park Tower ownership, further underscoring our collaborative approach to working with experienced sponsors and lenders on high-quality, complex assets.”

King Street and Cohort Capital were advised by Simpson Thacher & Bartlett LLP, Mishcon De Reya LLP and Knight Frank, while Linklaters advised Apollo.

The sponsor was advised by Taylor Wessing and Mutual Finance Ltd.