Cheyne Capital has provided a €62 million senior loan to Samla Capital to finance the redevelopment of The Hotel Maria, a five-star luxury hotel in Finland.
The Hotel Maria is located in Kruununhaka, Helsinki and comprises four buildings with a floor space of around 14,000 square metres. Following the refurbishment, the hotel – which is expected to open in December 2023 - will have 117 rooms and other amenities including two restaurants, two bars, a ballroom and a spa.
The project is Cheyne’s second real estate transaction in Finland. The alternative asset manager was advised by DLA Piper and TEAL Capital.
What they said
Samppa Lajunen, founder & portfolio manager of Samla Capital said: “Luxury tourism is a growing market and the demand for hotels that meet this need is also emerging across Finland. We are pleased to be partnering with Cheyne Capital, who understands the value of The Hotel Maria's concept and the luxury hotel sector.”
Daniel Schuldes and Michael Fournier of Cheyne Capital, said: “As a firm, we continue to see attractive lending opportunities in the luxury hotel sector as consumers seek out enhanced lifestyle experiences. We’re therefore proud to support Samla Capital with the financing of this prestigious project and look forward to the delivery of a world-class hotel in Finland.”