This is their first hotel deal in the Hospitality sector of the JV in 2021.
The Sheraton La Caleta hotel in Tenerife has 284 rooms, four restaurants, two bars, three swimming pools and a spa. The JV plans to carry out a refurbishment to further promote the relevance of this establishment as a benchmark hotel in the area.The hotel was until now owned by Grupo Disa and operated by the US chain Marriott.
Santander Asset Management (SAM), part of the Wealth Management & Insurance (WM&I) division, has more than 760 employees worldwide, of whom around 230 are investment professionals. SAM manages close to €200 billion of assets under management. Within the alternatives division, it employs 30 professionals dedicated to a variety of strategies on the debt and equity side.
Signal is a London-based private investment and asset management firm focusing on European asset-backed corporate and real estate special situations investments. Signal was established in 2015 by a highly seasoned management team pooling together a unique set of skills across asset and structural complexity. Signal currently has €2.1 billion assets under management through funds investing across the capital structure in Real Estate and Corporate Credit transactions in Europe, and an excellent track record in hospitality in Iberia.
Pérez-Llorca acted as Legal advisor to the JV on the acquisition, while KPMG Abogados advised the seller.
KPMG Abogados´team was led by Real Estate partner Carlos Bardavío and included senior manager Beatriz Ron.
