Värde Partners has provided a €225 million loan to refinance Banco Santander’s investment in a portfolio of luxury hotels owned by a joint venture between Santander and Meliá Hotels.
The portfolio comprises three assets in Spain and the UK operated by Melia; the Gran Meliá Palacio de Isora resort in Tenerife, the Meliá Cala Galdana resort in Menorca and the ME London hotel.
What they said
Vishal Kumar, managing director at Värde said: “This transaction underscores Värde’s conviction in the continued recovery of prime hospitality assets in established tourism destinations. We are pleased to be the financing partner of Banco Santander, supporting their investment in this strong-performing portfolio.”
Antonio García Méndez, global head of capital finance at Santander CIB added: “We are pleased to be a trustworthy partner for Meliá and Värde,” said Antonio García Méndez, global head of Capital Finance at Santander CIB. “With this transaction Santander CIB positions itself as a key long term partner to its corporate clients while offers attractive financing opportunities to its global investors network, offering high value-added solutions via equity and debt formats