Aareal Bank arranges €566m refinancing for The Social Hub
Aareal Bank has closed on a €566 million ($619 million) refinancing facility with The Social Hub (TSH), together with two participating lenders, one of which is Rabobank.
Operated under TSH’s hybrid hospitality concept offering co-working, events, hotel, extended-stay and student accommodations, the cross-border portfolio comprises 13 properties across the Netherlands, Spain, France and the United Kingdom. Aareal Bank acted as the arranger, agent and security agent of the senior loan, which is classified by Aareal as a green loan under its own Green Finance Framework.
With nearly 7,000 rooms across Europe and another 3,000 in the pipeline, The Social Hub, formerly known as The Student Hotel, has evolved into an desirable brand among tourists, students and young professionals.
“We are delighted to establish this relationship with such a unique hospitality brand and operator as TSH,” said Michelle Weiss, head of hotel properties at Aareal Bank. “The dist