Bank of Moscow Grants Loan to Refinance W St. Petersburg Hotel
OREANDA-NEWS. Bank of Moscow granted a loan of 33 million US dollars to R.E.D., LLC. Borrowed funds will be used to refinance W St. Petersburg Hotel. The loan is secured by movable and immovable property of the hotel, as well as the land, which the hotel is located on.
5-star W St. Petersburg Hotel was opened in April, 2011. The design of the hotel was developed by a famous Italian designer Antonio Citterio.
“Hotel business is interesting to the Bank of Moscow as a segment for funding, — said Andrey Yumatov, the Member of the Board of the Bank of Moscow. — We are pleased that together with the borrower we were able in a short time to organize and to conduct a transaction with one of the most popular hotels in St. Petersburg”.