US assets refinanced
Queensgate Investments has successfully completed a refinancing of two of its Generator Group lifestyle hotels in the US for circa $55 million with funds managed by Apollo
Queensgate Investments advises and manages around £3 billion worth of assets through the suite of its funds.
This deal follows a circa €600 million debt restructuring for Queensgate’s Generator Group, a lifestyle hospitality platform which owns, operates and develops assets across Europe and North America, for which Apollo funds provided nearly €100 million in secured financing in 2021. The Generator Group consists of 19 hotels, totalling nearly 11,500 beds across 17 tier one cities and 10 countries. All Generator properties are independently branded and operated by a fully integrated in-house management team.
The recent refinancing’s were for two of the Generator Group US assets located in Miami and Washington, DC.
Commenting on the scheme, Jason Kow, CEO of Queensgate said: “Queensgate Investments is pleased to continue our successful capital partnership with Apollo providing competitive, well-structured financing for the Generator Group.”