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Starwood Capital Group Originates €1.8B Loan in Acquisition Financing for One of UK's Premier Leisure Companies

MIAMI, March 1, 2021 /PRNewswire/ --A Starwood Capital Group ("Starwood Capital"), a global private investment firm focused on real estate and energy investments, today announcedA it has originated a A?1.8bn Term Loan as Mandated Lead Arrangers to Blackstone Capital Partners ("BCP") and Blackstone Real Estate Partners ("BREP") for the acquisition of Bourne Leisure, a premier UK holiday company.
Starwood Capital Group Originates €1.8B Loan in Acquisition Financing for One of UK's Premier Leisure Companies
Starwood Capital will hold A?720m split evenly between two of its investment vehicles, Starwood Real Estate Income Trust, Inc. ("SREIT"), a non-traded REIT managed by Starwood REIT Advisors, L.L.C., a subsidiary of Starwood Capital, and Starwood Property Trust, Inc. (NYSE: STWD). Bourne Leisure is the largest provider of caravan holidays and holiday home ownership in the U.K., operating three well-known brands a?? Haven, Butlin's and Warner Leisure Hotels. The company employs over 16,000 team members, hosts 25,000 holiday home owners, and attracts 4.5 million guests to 56 sites across the UK every year. "Starwood Capital has over 20 years of experience investing in Europe and we believe in the long-term growth opportunities in the UK. We expect to see a resurgence in the UK domestic leisure sector in the post-COVID lock down environment and are thrilled to participate in an investment that not only benefits our investors, but also supports the recovery of a COVID-impacted industry and the local economies that are tied to it," said Lorcain Egan, Managing Director a?? Head of International Loan Originations, at Starwood Capital. "We are also pleased to provide this financing to Blackstone, who has a proven investment track record in the wider hospitality, travel and leisure sectors. This transaction is in line with our strategy of providing large loan financings across major real estate asset classes."
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