Market Leads & Opportunities
£29m debt facility finalised for Silverstone hotel
Bricks Group has secured a £29m debt facility to support the completion of a hotel at Silverstone racetrack in Northamptonshire.The debt facility was overseen and arranged by RCP Finance, a pan-European property finance specialist, and included EVH Finance, a real estate development finance lender, covering £20.8m of the facility, and Banor Capital, an investment management firm, agreeing to the remaining £8.2m.Bricks Group has invested £11m of equity and is using this funding to complete the Hilton Garden Inn Silverstone in a position overlooking the start/finish line and pit lanes at the premier motor racing circuit.The five-storey hotel will have 197 guest rooms and suites, a rooftop terrace bar suitable for up to 200 guests, and raceday hospitality facilities with views over the final straight.
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