Finland: Global asset manager Cheyne Capital has provided a €62 million senior loan to Samla Capital Oy to finance the redevelopment of The Hotel Maria in Helsinki.
The Hotel Maria will be a five-star luxury hotel housed across four historic buildings. The loan will be used to reconfigure and refurbish the site whilst retaining the original exterior.
When complete, Hotel Maria will provide 117 rooms including 40 suites, two restaurants, two bars, a spa and gym, a ballroom, as well as a small chapel. It is expected to open in December this year.
Samppa Lajunen, founder and portfolio manager of Samla Capital Oy, said: “The Hotel Maria is a significant new arrival on the Finnish hotel scene, offering an enhanced experience for guests who appreciate Nordic hospitality and authenticity. 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 added: “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 Oy with the financing of this prestigious project and look forward to the delivery of a world-class hotel in Finland.”
DLA Piper and TEAL Capital advised Cheyne on the deal. The project represents Cheyne’s second real estate transaction in Finland.
The Hotel Maria will open as a member of Preferred Hotels & Resorts’ Legend Collection. It will be the brand’s first Legend hotel in Finland.
