Swiss Life agrees hotel sale & leaseback in Valencia

Swiss Life has purchased Senator Parque Central hotel in Valencia
in a sale & leaseback deal agreed with Senator Hotels & Resorts. The property is said to have traded at €24.5 million, according to newspaper Expansión and would not require a particularly important refurbishment of its facilities.

The hotel, which opened its doors in 2001 and was formerly known as ‘Hesperia Parque Central, is located on nº1 Plaza Manuel Sanchís Guarner, in the Ruzafa neighborhood. It was developed by now defunct construction group García Ojeda and ended up in the hands of the Bank of Valencia in the form of a non-performing loan. It was leased to Senator in January 2011 which would become owner of the asset in the summer of 2017, after purchasing the property from Spain’s bad bank (SAREB).

About Swiss Life

The Swiss Life Group is one of Europe’s leading comprehensive life and pensions and financial solutions providers. In its core markets of Switzerland, France and Germany, Swiss Life offers individuals and corporations comprehensive and individual advice plus a broad range of own and partner products through its sales force and distribution partners such as brokers and banks.

Swiss Life Select, Tecis, Horbach, Proventus, Fincentrum and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high net worth individuals with structured life and pensions products.

Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The subsidiaries Livit, Corpus Sireo, Beos and Mayfair Capital are also part of the Swiss Life Group. The Group employs a workforce of around 8600 and has at its disposal a distribution network of some 14 000 advisors.