CBRE Global Investors has bought a city centre hotel in Madrid from a subsidiary of Signal Real Estates Opportunities.
The four-star Exe Moncloa hotel on Calle Arcipreste de Hita has 161 rooms as well as 770 m2 of catering and retail space on the ground floor. CBRE said the Spanish hotel market is increasingly appealing to institutional investors given the prospect of further yield compression and rental uplift.
The vendor was Lonta Investments, a wholly owned subsidiary of Signal. CBRE was advised by DLA Piper, PwC, JLL, Christie&Co and Clifford Chance. CBRE Hotels acted for the seller.
