QSix Real Estate Finance has made a €25 mln loan to help a sponsor acquire four hotel and hospitality properties in the Netherlands.
The borrower using the funds to acquire the assets is the hotel tenant – Gr8 Hotels, which operates Amsterdam Riverside, Bodegraven, Maastricht Aachen Airport, Oosterhout, and Sevenum in the countryside of Noord Limburg.
QSix did not specify the assets it has provided the loan for but said they were spread around various motorway points across the country.
It is the first deal completed by QSix in the Netherlands, having earlier this year announced its expansion into the Dutch commercial real estate market through the opening of its Netherlands office.
It also follows several transactions completed by the QSix in the first half of this year, most recently a £40 mln (€46 mln) loan for the completion of Tobacco Warehouse Phase 1 at Stanley Dock in Liverpool.
This transaction takes the amount of capital deployed by QSix to £175 mln (€200 mln) across 12 loans, including £95 mln (€110 mln) deployed in 2021 alone.
Eduard Mantz, investment director and head of QSix’s Netherlands office, said: ‘Through their experience as a tenant, the borrower will bring a well-rounded and informed perspective that will help these properties develop and succeed over the coming months and years.’
Gareth Williams, head of QSix, added a main reason for expanding into the Dutch market was to uncover such investment opportunities and capitalise on a very attractive market environment. ‘This deal demonstrates the significant potential the Dutch CRE market holds for us.’