• Shelbourne loan sale

Investor Kennedy Wilson has bought half the EUR206m senior debt outstanding on Dublin’s Shelbourne Hotel. The five star Marriott-branded property was bought in 2004 by a group of five Irish investors, and expensively refitted to take it upmarket, reports CoStar.

Allied Irish and Bank of Ireland jointly funded the acquisition and work, and it is BOI that has sold its half of the loan. The hotel was valued at EUR90m in 2008, and also has EUR20m of mezzanine debt outstanding on it.

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