• Colony backs McKillen

Irish investor Paddy McKillen has used backing from Colony Capital to refinance his interest in Coroin, the company that owns a trio of luxury London hotels. The loans were offered for sale by IBRC, and McKillen outbid rival co-owners the Barclay brothers, reports CoStar.

By winning the sale, McKillen has underpinned his 36.2% shareholding in Coroin, owner of Claridges, the Connaught and Berkeley. The loans were part of a EUR800m loan portfolio sale named Project Pebble, which also included UK and Irish shopping centre assets.

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