UK challenger bank, OakNorth, has completed a debt finance deal worth £750,000 to enable Bliss Investment Partners, to acquire the four-star hotel, Ramada Plaza Southport, from Even Southport.

Deepesh Thakrar, Debt Finance Director at OakNorth Bank, comments: “Since our launch in September 2015, we have provided debt finance for a number of hotel deals, including the development of a 200-bedroom aparthotel in Liverpool and the purchase of the Best Western Calcot Hotel in Reading. Robert Agsteribbe and Daniel Broch’s (Managing Partners at Bliss Investment Partners) experience, coupled with the strong management team, and the hotel’s outstanding reputation, put it in a prime position for continued success in the future. With Royal Birkdale hosting the Open Golf Championship later this year, the hotel will remain a prime destination for tourists and professionals alike – we look forward to working with the team on future opportunities.”

Don’t miss the January issue of IBS Journal, in which we talk to Francesca Gandolfo, Chief Operations Officer, OakNorth about becoming the first bank in the UK to have its core system fully hosted on the cloud. Subscribe here.

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by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: