• Aareal fixes PPHE funds

Hotel group PPHE has completed the EUR24m refinancing of the Amsterdam art’otel. The deal sees Aareal Bank taking over debt previously provided by Bank Hapoalim that was due to mature in the first quarter of this year.

At the end of 2013, Aareal also refinanced debt on three London hotels and five in Amsterdam owned and operated by PPHE. The company has a portfolio of 38 hotels and more than 8,300 rooms operating under Park Plaza, art’otel and Arenaturist brands.
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