Main Photo: The WXYZ Bar at the Aloft Madrid
Date: August 2019
Location: Calle Jacometrezo, Gran Via, Madrid, Spain
Name: Aloft Madrid Gran Via
No. of Keys: 139
Seller: Singapore-based SafeGuard Real Estate Management, advised by CBRE on the sale of the 139-room, 13-floor hotel managed under Marriott International’s Aloft brand.
SafeGuard are a fund and investment manager, rapidly growing since incorporation, they manage real estate funds on behalf of discretionary investors and third party mandates pursuing controlled risk strategies in high yielding real estate markets globally.
“This hotel asset benefits from an impressive location within Madrid, currently one of the most solid European markets in terms of performance and liquidity,” said Miguel Casas Albandor, head of hotel investment properties for continental Europe at CBRE.
They are also invested in the five star W Hotel Madrid, another Marriott branded hotel. They also have several student accommodation projects in the UK
Buyer: Property company Henderson Park, with a growing hotel portfolio, although this is relatively small for them.
Price per Key: €410,072
THPT Comment: Interesting buy for Henderson Park, because of the size, given they have hotels like the Le Meridien Etoile in Paris with over 1,000 rooms and the two Metropole Hiltons in London and Birmingham with over 1,800 rooms between them.
First Seen: IPE Real Assets
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