Maslow Capital supports Criterion Capital with a £294m facility to acquire the St Giles Hotel and refinance Haymarket House

Specialist real estate finance provider Maslow Capital has provided a £294m facility to Criterion Capital. The financing supports Criterion Capital’s acquisition of the 732-bed St Giles Hotel and Criterion’s preexisting Freehold interest in the island site, alongside the refinancing of Haymarket House with a bespoke facility allowing for the construction of a 508-bed Zedwell hotel.

BBS Capital acted as exclusive advisor to Asif Aziz and Criterion Capital.

This transaction was structured by Maslow Capital’s Lending Solutions division, which works alongside the lender’s Bridging and Development teams. Lending Solutions specialises in complex, structured credit outside the scope of typical lenders, supporting a wide spectrum of real estate assets and scenarios where borrowers require tailored underwriting and flexible structuring.

Adam Baghdadi, Head of Lending Solutions at Maslow Capital, commented:
“Criterion Capital has a substantial track record in London and the west end hospitality market, and it has been a pleasure to work together on this portfolio transaction. The facility supports standing assets while providing flexibility as transformational work progresses. Completing over the holiday period required focus and alignment across all parties. We look forward to building a long-term relationship as the portfolio continues to evolve.”

Joanne Barnett, Co-Founder of BBS Capital, added:
“Our role was to advise Asif Aziz and Criterion Capital to bring the right capital partner to the table for a multi-asset, prime Central London hospitality & retail transaction. The structured facility was executed in short order with thanks to the professionalism of all parties involved including the legal teams at DLA (for the Lender) & Deloitte (for the Borrower). Maslow’s continued ability to provide complex bespoke facilities provided a strong fit for the borrower.”

Asif Aziz, Founder of Criterion Capital, said:
“This facility supports the acquisition of St Giles Hotel and the delivery of Haymarket House; two key assets within our west end hospitality portfolio which now comprises 3,700 operating rooms and a target of reaching 9,000 by 2029. The structure provides the flexibility we need to continue executing our plans across the portfolio, and we appreciate the support of Maslow Capital and the advice of BBS Capital throughout the process.”