Acquisition of Sheraton La Caleta Resort & Spa

Santander Asset Management and Signal Capital Partners have completed the purchase of the Sheraton La Caleta Resort & Spa, located in Costa Adeje, Tenerife.

This is their first hotel deal in the Hospitality focussed JV set up in 2021.

The hotel 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.

Colliers has advised the JV in the acquisition of the Sheraton La Caleta Hotel.

Perez Llorca legally advised the JV on the acquisition.

About Signal and SAM:

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 €200bn 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 €2.1bn 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.