INVESCO AND SPREA ACQUIRE RADISSON COLLECTION HOTEL BILBAO IN SPAIN

Global investment manager Invesco Real Estate, together with SPREA (Spanish bank Santander’s private-banking real estate investment division), has acquired the five-star, 137-room Radisson Collection Hotel, Gran Via Bilbao in northern Spain, for an amount reported to be €42 million (€306,600 per room). The property, formerly Santander’s headquarters, is situated in central Bilbao next to the city’s main train station Abando Indalecio Prieto. The hotel includes a restaurant, rooftop bar, four meeting rooms and a swimming pool. It is leased to the Radisson Hotel Group under a long-term agreement.