The hotels were acquired by Fattal in 2019 and are operated under the European arm of the Fattal Hotel Group, the Leonardo Hotels brand.

The hotels being refinanced are the NYX Hotel London Holborn, Leonardo Royal Hotel London City, Leonardo Royal Hotel London Tower Bridge, and Leonardo Royal Hotel London St Paul’s.

Totalling over 1,300 bedrooms, the hotels have undergone significant refurbishment since the acquisition.

Alongside its own funds, Cheyne’s long-term supporter, Migdal Insurance Company, also participated in the refinancing.

Arron Taggart, head of UK investment at Cheyne Real Estate, commented: “This refinancing is one of the largest so far in 2024 and demonstrates our ability to execute high quality transactions of size.

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“In Fattal, we have both an operator of the highest calibre as well as a funding partner that is willing to step up when required.

“The London hotel market is proving to be a compelling investment as it continues to recover post COVID-19, and we will continue to seek out similar best-in-class investments such as this.”

Guy Vardi, merger and acquisition director at Fattal, added: "We are pleased to collaborate with Cheyne Capital, who have brought their exceptional expertise to this significant, high-profile financing of our beautiful hotels in London.

“Partnering with them, alongside Migdal Insurance Company, demonstrates the trust they have in our operational performance and hospitality platform, ensuring we continue to elevate our offerings in this vibrant city.”