CBRE, the world's leading real estate consultant, was responsible for advising on the sale of Exe Saldanha Hotel, located on Avenida Defensores de Chaves, in Lisbon.
In this operation, CBRE has represented the seller D. Chaves 5/9 S.A., which sold Exe Saldanha to a fund managed by Swiss Life Asset Managers, one of the largest real estate investors in Europe. The hotel is in operation through a lease agreement with Hotusa, a Catalan company in the tourism sector.
“The hotel sector was one of the most affected over the last year but now it is expected that it will pick up quickly and may be close to a full recovery. The completion of this deal reinforces CBRE's hotel business area, with the sale of one of the most central hotels in Lisbon, which also represents a strategic acquisition for the buyer”, says Francisco Horta e Costa, Managing Director of CBRE Portugal.
“The sale of Exe Saldanha Hotel by D. Chaves 5/9 S.A. to Swiss Life Asset Managers proves that the hotel and tourism sector remains resilient and confident in the post-pandemic recovery. Expectations of recovery are positive for players, which turns out to be decisive for maintaining the dynamic at the business level”, add Duarte Morais Santos, Director Investment Properties CBRE Hotels Portugal.
Located in a prime area of the city, Exe Saldanha is a three-star hotel with 130 rooms, bar/cafeteria service and an underground car park.
CBRE had already been involved in the sale of Exe Liberdade Hotel to Swiss Life Asset Managers in 2019.