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- October 1, 2012: Vol. 6, Number 9

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Renta Sells Madrid Asset for Hotel Development

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Spain-based Renta Corporación has sold 80 Gran Vía in Madrid for €20.5 million. The buyer, owner of the Hotel Chiqui in Santander, Spain, plans to redevelop the 7,300-square-metre property into a 160-bed hotel.

“This deal confirms that the hotel investment community is mainly focused in acquiring well located assets at competitive prices,” says Jorge Ruiz, head of CBRE Hotels Spain.

 

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