Invesco Ltd. has acquired, together with SPREA, a five-star hotel in central Bilbao, a major city and industrial port located in the Basque Country of northern Spain. The transaction is the second deal between Invesco and SPREA, the real estate wealth division of Santander Private Banking, and follows the acquisition of residential land in Madrid to develop 73 homes.
The 137-room Radisson Collection hotel is the former headquarters of Banco Santander in the city. Located in the city center, the hotel underwent a full capital expenditures- (capex)-led refurbishment program, resulting in LEED Platinum certification. Amenities include a rooftop restaurant, four meeting rooms, fitness center and an indoor swimming pool.
The hotel is leased to Radisson Hotel Group, a leading global hotels operator. The Radisson Collection brand represents the group’s highest tier, offering luxury accommodations and personalized experiences. Radisson Hotel Group operates 11 hotels in Spain
