Mishcon de Reya has advised Shiva Hotels Group as lead counsel on its market-leading £300 million refinancing of The BoTree Hotel, a landmark luxury asset in the heart of London. This marks the largest single-asset hotel refinancing in Europe since COVID-19.
The BoTree Hotel, a 199-room luxury hotel situated at the crossroads of Marylebone, Mayfair, and Soho, first opened in 2023.
The refinancing, secured with BlueWater Capital and NorthWall Capital, will allow Shiva Hotels Group to move forward with the next phase of its growth and development of the hotel, which includes a rooftop swimming pool, a bar and lounge, a wellness and fitness space, as well as additional private dining and meeting rooms.
The Mishcon de Reya team was led by Real Estate Finance Partner Nick Strutt, with support from Associates Gareth Jamieson and Keegan Browne, Commercial Real Estate Partner Nick Minkoff, and Managing Associate Venessa Toofanny.
Nick Strutt commented: "We are proud to have advised Shiva Hotels Group on this landmark refinancing. The BoTree Hotel is a prime example of luxury hospitality in London, and this deal not only strengthens Shiva’s position in the market but also highlights the continued investor confidence in high-quality hotel assets. Our team’s deep understanding of the asset and collaborative approach were key to navigating the complexities of this transaction efficiently and within an extremely tight timeframe."
With over 130 fee earners including 46 partners, Mishcon de Reya's Real Estate department is one of London’s largest and most diverse property teams. Our Real Estate department comprises well-regarded specialist practice areas and provides a one stop shop for all of our clients' property requirements. The team provides a seamless service from investment, structuring, funding, acquisition and planning, through to construction, development, tax and litigation advice.
Our specialist team of real estate finance lawyers advise on how to structure financing to provide maximum security for you as the lender or maximum certainty as the borrower. We work with major banks and other leading property lenders on senior and mezzanine basis, as well as advising some of the industry’s highest-profile property investment and development borrowers.