CBRE Global Investors, on behalf of an institutional client, has purchased Hotel Exe Moncloa, a 4-star hotel located in the heart of Madrid, Spain. The hotel is leased to Hotusa and VIPS.
CBRE advised the seller, Lonta Investments 2016 S.L., a wholly owned subsidiary of Signal Real Estates Opportunities Fund LP.
The hotel has 161 rooms and 770m² of retail on the ground floor which includes a 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 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.