Clydesdale Bank is refinancing a £107 million loan secured against a portfolio of 14 hotels owned by funds managed by Goldman Sachs’ Whitehall property division, Property Week reports. The bank has provided a new facility, allowing the Whitehall fund, which owned the 14 Queens Moat House (QMH) hotels, to repay the original loan. The original loan on the hotels, which trade under the Crowne Plaza and Holiday Inn brands and were last valued at £230 million, was also provided by Goldman and then securitized. Whitehall appointed debt advisory firm, Cairn Capital, to advise on the restructuring talks, while Rothschild is advising the loan’s special servicer, Capita, along with law firm, Paul Hastings.
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