European real estate asset management platform Henderson Park has acquired a hotel in Madrid from Singapore's SafeGuard Real Estate Management for more than €57 mln.
The Aloft Madrid Gran Vía has a long-term management agreement with Marriott International, and is operated under the Aloft brand. The hotel comprises 139 rooms over 13 floors plus a rooftop outdoor pool, gym and restaurant-bar.
'This hotel asset benefits from an impressive location within Madrid, currently one of the most solid European markets in terms of performance and liquidity,' said Miguel Casas Albandor, head of hotel investment properties Continental Europe at CBRE, advisors to the vendor.
'It is the first hotel in Spain to be branded by Marriott’s Aloft Brand, which brought strong interest from international investors to the opportunity,' Albandor added.
'The fund’s investment into the Aloft development has been a resounding success,' said Chris Werner, CEO of SafeGuard.