Hospitality and Hotels: National ProsperCap Secures £66 Million Loan from Castlelake November 12th, 2024 Deividas Krupstas ProsperCap, a leading UK hospitality real estate group, has successfully secured a £66 million mortgage-secured loan from Castlelake, LP, underscoring a notable vote of confidence from institutional investors in the UK hospitality sector’s recovery and growth potential. This loan forms a crucial part of a broader refinancing initiative aimed at strengthening ProsperCap’s hotel portfolio and positioning the group for continued success.The loan provided by Castlelake is secured against a diverse portfolio of 17 hotels strategically located across 15 cities in the United Kingdom. These properties, which are spread across key metropolitan and regional hubs, showcase ProsperCap’s commitment to fostering a well-positioned and geographically diverse hospitality portfolio.Castlelake’s £66 million loan is a portion of a comprehensive £310 million refinancing package ProsperCap has recently secured. This significant financial backing also includes an additional £14 million designated for upgrading the hotel properties, ensuring they remain competitive and meet evolving guest expectations. The refinancing structure comprises both senior and mezzanine loans, totaling over £296 million.
