We are delighted to have successfully facilitated a new loan for The Royal Yacht Hotel, in one of Jersey’s largest refinancing arrangements for a local business.
Working with Starwood Capital Group, a specialist hotel funder, ALC helped to structure a loan backed by a Real Estate Investment Trust (REIT). Thought to be the first refinancing structure of its kind in Jersey, the new facility will now allow MiJa, owners of the Royal Yacht Hotel, to further develop the hotel by continuing to invest in an on-going programme of improvements and refurbishments.
Ben Thomason, Managing Director of ALC, gave his response to the corporate restructure. “This is the first transaction that Starwood Capital Group have worked on in Jersey, and we are delighted to have introduced a new specialist lender of this calibre into the island. Completing a deal of this size and complexity demonstrates our ability to find innovative solutions for our clients, as well as being able to introduce new providers of finance to complement traditional bank finance. This brings greater choice for our clients, and consequently, additional opportunities to structure their finance more efficiently.’’
James Taylor, Chairman of the MiJa Group, added: “Ben and the team at ALC did a fantastic job in bringing real expertise and innovation in helping us to secure a new facility which allows us to increase our investment and further develop what is already a highly successful business. In addition, the commitment of an organisation of Starwood’s reputation demonstrates tangible confidence in the future of The Royal Yacht Hotel and in the islands hotel and leisure industry.”