CBRE Global Investors has bought a 4-star hotel in Spain from a subsidiary Signal Real Estates Opportunities Fund.

CBRE Global Investors, on behalf of its clients, has acquired Hotel Exe Moncloa in Madrid from Lonta Investments 2016 for an undisclosed sum. The 61-room hotel is leased to Hotusa and VIPS, has 770sqm of retail on the ground floor.

CBRE Global Investors said the acquisition offers its client 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,” it said.