In December 2018, PCP provided a SEK 600m asset backed term loan to the Norwegian real estate company Host Hoteleiendom AS. The five-year loan will be used to refinance existing debt and to fund growth initiatives.
Host Hoteleiendom is focused on owning, managing and developing hotel properties located in large and medium sized cities across Scandinavia. Sweden represents the Company’s largest market, followed by Norway and Denmark. Host Hoteleiendom is part of the same group as the hotel operator Tribe Hotel and the hotel brand First Hotels.
PCP appreciates Host Hoteleiendom’s real estate portfolio which includes several prime assets as well as the Company’s stable revenue profile supported by long-term minimum lease-contracts.