---
title: "Update on Hospitality & Commercial Real Estate Business Developments"
description: "Georgia Capital PLC (the Group or Georgia Capital) today announces the buyout of the remaining 40% equity stake in an upcoming luxury hotel (the “Hotel”) by the"
canonical_url: "https://georgiacapital.ge/news/company-news/560-update-on-hospitality-commercial-real-estate-business-developments"
locale: en
meta:
  author: website
  "og:description": "Georgia Capital PLC (the Group or Georgia Capital) today announces the buyout of the remaining 40% equity stake in an upcoming luxury hotel (the “Hotel”) by the"
  "og:image": "https://georgiacapital.ge/gcap_og_image.png"
  "og:image:alt": "Update on Hospitality & Commercial Real Estate Business Developments"
  "og:image:height": "261"
  "og:image:width": "500"
  "og:title": "Update on Hospitality & Commercial Real Estate Business Developments"
---

> Index of every page on this site: [llms.txt](https://georgiacapital.ge/llms.txt)

06 Feb 2019

Follow on socials

Georgia Capital PLC (the Group or Georgia Capital) today announces the buyout of the remaining 40% equity stake in an upcoming luxury hotel (the “Hotel”) by the Group’s Hospitality & Commercial Real Estate Business, owned through m2 Real Estate (“m2” or the “Company”). Following its initial acquisition in December 2017, m2 held a 60% stake in the Hotel, which is located on Mtatsminda hill - a neighborhood with one of the most spectacular panoramic views of Tbilisi. The total consideration for the buyout is US$ 5.2 million, where US$ 0.3 million is paid in cash and US$ 4.9 million is settled through bonds issued by the Commercial Real Estate Business. The placement of US$ 30 million local bonds with a 3-year tenor, which are backed by the rental income stream from commercial properties and carry an annual coupon rate of 7.5%, was launched in December 2018. The remaining proceeds from the bond issuance are earmarked to finance the development of hotels already in the pipeline.

## Explore more

```json
{
  "@context": "https://schema.org",
  "@type": "CollectionPage",
  "@id": "https://georgiacapital.ge/news/company-news#webpage",
  "url": "https://georgiacapital.ge/news/company-news",
  "name": "Company News",
  "inLanguage": "en",
  "isPartOf": {
    "@id": "https://georgiacapital.ge/#website"
  }
}
```

## Sitemap

See the full [sitemap](https://georgiacapital.ge/sitemap.md) for all pages.