CBRE Global Investors, on behalf of a client, has acquired Hotel Exe Moncloa, a 4-star hotel located in the heart of Madrid, Spain. The hotel is leased to Hotusa and VIPS.
The seller was Lonta Investments 2016, a wholly owned subsidiary of Signal Real Estates Opportunities Fund.
The city center hotel has 161 rooms and has 770 square meters (8,3000 square feet) of retail on the ground floor, which includes the VIPS restaurant. There are also 124 parking places. The hotel is located in the Moncloa district, next to one of the largest transport hubs in the city and within walking distance of Princesa and Gran Via, prime shopping areas in Madrid.
The acquisition offers CBRE Global Investors’ client a stable cash flow in a liquid and established investment market. The Spanish hotel market is increasingly appealing to institutional investors with the potential of further yield compression against other asset classes and rental uplift.
