A French investment fund has closed the purchase of the Hotel Vintage Valencia from Casual Hotels for 11 million euros. Through a sale & leaseback operation, Casual will continue to operate the asset under a long-term contract, according to Levante-EMV.
The selling firm manages to obtain capital gains from the sale, six years after acquiring it, in addition to a long-term exploitation contract.
The transacted asset is the old Hotel Londres, promoted by the family of the filmmaker Luis García Berlanga. The complex has 67 rooms, on nine floors, ground floor and basement.