The world’s largest global real estate advisor CBRE has successfully advised SafeGuard Real Estate on the sale of The Aloft Madrid Gran Via for over €57 million.
Located in Gran Via, one of the most attractive districts in the heart of Madrid, the hotel totals 139 rooms over 13 floors and also includes a rooftop outdoor pool, gym and restaurant bar.
Highlighting the virtues of the property, Miguel Casas Albandor, Head of Hotel Investment Properties, Continental Europe at CBRE, said: “This hotel asset benefits from an impressive location within Madrid, currently one of the most solid European markets in terms of performance and liquidity. 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;”
The Aloft Madrid Gran Via is currently under a long-term agreement with Marriott International, which is operated under their Aloft brand.
According to Chris Werner, CEO of SafeGuard: “The fund’s investment into the Aloft development has been a resounding success.”