Cheyne Capital, the global alternative asset manager, has provided a €62 mln senior loan to Samla Capital Oy to finance the redevelopment of The Hotel Maria, a luxury hotel located in the heart of Kruununhaka, Helsinki.
This is the second time Cheyne has lent against a real estate project in Finland.
The Hotel Maria is a five-star luxury hotel of four historic buildings of around 14,000 m2 that are being comprehensively reconfigured and refurbished, without compromising the original exterior.
The finished hotel will consist of 117 rooms, two restaurants, two bars, a spa, a gym and a ballroom, as well as a small chapel. The hotel is expected to open in December 2023.
Daniel Schuldes and Michael Fournier of Cheyne Capital, said: ‘We continue to see attractive lending opportunities in the luxury hotel sector as consumers seek out enhanced lifestyle experiences.’
Cheyne Capital launched in 2000.