CAERUS Debt Investments AG (CAERUS) has committed €120m for the development of the "Mandarin Oriental Vienna", a five-star hotel in the 1st district of Vienna, through a senior secured whole-loan financing agreement with the Swiss Brisen Group. An initial tranche of €40m has already been released to the project.
The hotel is being developed in the striking art nouveau building at Riemergasse 7, where the Vienna Commercial Court was based for almost a century. Scheduled for completion by the end of 2023 the building will provide over 150 hotel rooms and suites, as well as 17 luxury apartments under the "Residences at Mandarin Oriental" brand.
Michael Morgenroth, CEO of CAERUS Debt Investments AG, said: "The factors that convinced us to provide financing for this project include the Brisen Group's highly professional approach, the city authority's support of the project, the unique location of this matchless building and, not least, the Mandarin Oriental international luxury hotel chain as an operator."