MADRID-UK-based Continental Property Investment, the investment fund controlled by British investor Boutros El Khoury, has paid $174 million to purchase Triangle Princesa hotel complex here from struggling listed group Metrovacesa – the largest Spanish hotel deal of this year so far.
After more than one year of negotiations, El Khoury has closed the purchase of the Five-Star Husa Princesa and Four-Star Husa Moncloa, both located in the city center of Madrid and locally known as Princesa Triangle. The complex is composed of the two hotels (423 rooms), a 40,000-square-foot office building rented to El Corte Ingl
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
