Arrow Global purchases two hotels in Portgual

A fund managed by Arrow Global has acquired the Hilton Vilamoura As Cascatas Golf Resort & Spa, and Vilamoura Garden, located in Algarve, Portugal.

CBRE and Eastdil Secured served as advisors on the sale to a fund managed by Arrow Global. The financial terms were not disclosed.

Hilton Vilamoura As Cascatas Golf Resort & Spa is a 5-star resort consisting of a hotel with a total of 135 rooms and 69 apartments, as well as 45 apartment units under management from its As Cascatas Apartments affiliate. The Resort offers guests five restaurants, four swimming pools, an exclusive spa with a wide range of wellness-oriented amenities and 11 meeting rooms, each of which can be adapted to suit the type of meeting or event.

Vilamoura Garden is a 4-star hotel with 59 rooms and a swimming pool. The hotel also provides guests with access to a fully equipped gym, a 24-hour available business center and a restaurant and bar with distinct menus.

Both properties sit