Aareal Bank and Bank of Montreal to Cooperate on Large-Scale Canadian Hotel Portfolio
06 December 2017 - 8:25PM
Business Wire
Bank of Montreal is co-financing a Canadian hotel portfolio
facility arranged and underwritten by Aareal Bank AG. On 7 July
2017 Aareal Bank had announced to provide a CAD 716 million
facility with the intention to syndicate part of the loan to one or
more strategic partners. The portfolio comprised 22 hotels in prime
locations with an aggregate of 6,119 rooms across Canada, including
major hubs such as Vancouver, Toronto, Montreal, Edmonton, Calgary
and Quebec City.
"The new relationship with Bank of Montreal is an encouraging
demonstration of a successful cross-continental cooperation with
one of the key players in the Canadian market", said Christof
Winkelmann, Member of the Management Board at Aareal Bank.
Aareal Bank acted as Arranger, Lender, Agent and Administrator
for the financing with a five-year term.
Aareal Bank Group
Aareal Bank Group, headquartered in Wiesbaden, Germany, is one
of the leading international property specialists. It is active
across three continents - in Europe, North America and Asia. Aareal
Bank AG, whose shares are included in Deutsche B�rse's MDAX index,
is the Group's parent entity. It manages the various entities
organised in the Group's two business segments: Structured Property
Financing and Consulting /Services. The Structured Property
Financing segment encompasses all of Aareal Bank Group's property
financing and funding activities. In this segment, the Bank
facilitates property investment projects for its domestic and
international clients, within the framework of a three-continent
strategy covering Europe, North America and Asia. In the
Consulting/Services segment, Aareal Bank Group offers clients -
particularly from the housing industry and the commercial property
sector - services and products for managing residential property
portfolios and processing payment flows.
Language: English Company: Aareal Bank AG Paulinenstr. 15
65189 Wiesbaden Germany Phone: +49 (0)611 348 - 0 Fax: +49 (0)611
348 - 2332 E-mail:
aareal@aareal-bank.com
Internet:
www.aareal-bank.com
ISIN: DE0005408116 WKN: 540811 Indices: MDAX Listed: Regulated
Market in Frankfurt (Prime Standard); Regulated Unofficial Market
in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate
Exchange; Stockholm
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version on businesswire.com: http://www.businesswire.com/news/home/20171206005498/en/
Aareal Bank AG Corporate CommunicationsSven Kornd�rfferPhone:
+49 611 348 2306sven.korndoerffer@aareal-bank.comorChristian
FeldbrüggePhone: +49 611 348
2280christian.feldbruegge@aareal-bank.comorJorge PersonPhone: +49
611 348 3217jorge.person@aareal-bank.com