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Abu Dhabi Islamic Bank (ADIB) and Emirates NBD have closed a £121 million ($164 million), five‑year club financing facility for the UK’s Union Property to refinance the Pullman London St Pancras hotel.
This is the second 50/50 club deal involving ADIB and ENBD for Union Property, following the December 2024 closure of a £140 million senior financing transaction for a Purpose-Built Student Accommodation (PBSA) asset in central London, Paddington Citi View.
Raashed Amin, CEO UK at Emirates NBD, said the latest transaction reflects the bank’s priority to “focus on high-quality real estate in London”.
Located in central London, the Pullman London St Pancras is a 312-room four‑star property operated by the hospitality group Accor.
Legal advisory for Emirates NBD was provided by Osborne Clarke, while ADIB and Union Property were advised by Foot Anstey and Muckle LLP, respectively.
(Writing by Bindu Rai, editing by Seban Scaria)
