ASK co-lends £19.5m to Capilon Group for Paddington hotel

ASK has provided a £19.5m co-loan with OakNorth to Capilon Group, who in partnership with Prima Asset Management will use the facility to acquire, refurbish and convert a nine-storey, Grade II listed, vacant hotel in Paddington, into a 80-room boutique hotel.

Mike Ginsberg, Investment Analyst at ASK, said:

“Given Capilon’s excellent track record and the site’s central Zone 1 London location, ASK was very happy to underwrite this loan. We believe Capilon are well poised to deliver an exceptional offering to the marketplace. It was a pleasure to work with them and our partner OakNorth and I wish them all the best with the project.”
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