LONDON – Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, today announced that an affiliate of Värde has provided a €225 million loan to refinance Banco Santander’s investment in a portfolio of luxury hotels owned by a joint venture between Santander and Meliá Hotels International.
The portfolio comprises three luxury hospitality assets located in Spain and the U.K., which are operated by Meliá Hotels International: Gran Meliá Palacio de Isora resort in Tenerife, Meliá Cala Galdana resort in Menorca and ME London hotel in London.
“This transaction underscores Värde’s conviction in the continued recovery of prime hospitality assets in established tourism destinations,” said Vishal Kumar, a Managing Director at Värde. “We are pleased to be the financing partner of Banco Santander, supporting their investment in this strong-performing portfolio.”
“We are pleased to be a trustworthy partner for Meliá and Värde,” said Antonio García Méndez, global head of Capital Finance at Santander CIB. “With this transaction Santander CIB positions itself as a key long term partner to its corporate clients while offers attractive financing opportunities to its global investors network, offering high value-added solutions via equity and debt formats.”
Värde has over 30 years of experience investing in real estate credit and assets with deep expertise across all major asset classes. Värde’s global real estate team is supported by in-house asset management professionals as well as a partnership with an industry-leading servicer and asset manager. As an originator of real estate credit solutions, Värde seeks to provide flexible capital and certainty of execution to borrowers.
About Värde Partners
Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum and currently manages $17 billion in assets. With local investment teams and partnerships in North America, Europe and Asia Pacific, Värde invests across private and public markets with a focus on real estate, asset-based finance and corporate credit. For more information, please visit www.varde.com.
About Banco Santander
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of the third quarter of 2024, Banco Santander had €1.3 trillion in total funds, 171 million customers, 8,100 branches and 208,000 employees.
Santander Corporate & Investment Banking (Santander CIB) is Santander’s global division that supports corporate and institutional clients, offering tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society.
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