Milbank LLP represented OneIM in connection with its acquisition financing of The Other House London hotel portfolio.
The portfolio comprises unbranded extended stay hotels in prime central London, including two operational assets – The Other House South Kensington and The Other House Covent Garden – as well as a development site at the former Belgravia police station on Buckingham Palace Road. The £375M financing provided by Cheyne Capital, one of the largest loans issued in the London market this year, will be used as acquisition finance and development funding to execute OneIM’s value-add business plan, which includes repositioning the portfolio under a new wellness-led luxury hospitality brand.
The Milbank team was led by Real Estate partners Miles Flynn and Rehan Hanif, with associate Emmanuel Wiafe.
