Carlton Group has successfully sold 100% of Hotel Alameda Valencia, SLU (Westin Valencia, Spain) on behalf of one of Spain’s biggest financial institutions, Bankia Group. This was a very challenging transaction given certain investor hesitations on acquiring real estate in Spain.
Notwithstanding, Carlton was able to customize and execute a comprehensive marketing and due diligence strategy which produced multiple non-contingent, hard bids. Ultimately, Carlton in consultation with Bankia selected a German hospitality investor whose expertise is on acquiring and operating luxury seaside hotels. This investor was not known to the financial institution and was developed as a result of Carlton’s extraordinarily detailed and highly focused marketing campaign which accessed the best buyer for this particular asset. Overall, over 50 investors underwrote the acquisition opportunity.
Carlton’s deep involvement in all execution phases of transaction was key for its successful closing, including: elaboration of projections, structuring of acquisition debt, information memorandum and other marketing materials; marketing strategy; coordination of all required due diligence; management presentation; and final negotiations & closing of financing and sale documentation with the selected investor.
This sale resulted in the maximum price possible for Carlton’s institutional client.
Source: Cartlon Group