Stoneweg Hospitality acquires two hotels in Spain from Globalia Business Corporation

Cuatrecasas advised Stoneweg Hospitality, the hotel investment arm of the global real estate company Stoneweg, on acquiring hotel La Niña, a four-star hotel in Costa Adeje (Tenerife), and hotel Palace de Muro, a five-star hotel in Muro (Mallorca), from Globalia Business Corporation, as well as on the financing of these acquisitions. The deal is valued at €83 million, and the financing transaction was formalized with Banco Santander for €60 million through a long-term structured credit facility.

These acquisitions represent an important milestone for Stoneweg’s strategy, increasing its hospitaliy exposure by 25% from 1,281 to 1,691 keys, as well as its weighting in the Balearic and Canary Islands to 62%.

Cuatrecasas partners Albert Trias de Bes (Corporate) and Manuel Follía (Banking and Finance) coordinated the transaction, together with Amalur Marcos and Josep Casanellas, lawyers of the Corporate Practice, and Guayente Gállego and Víctor Utges, lawyers of the Banking and Finance Practice.