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Santander is selling a €170m portfolio of hotel loans, Project Formentera.
The loans are backed by 17 properties located across Spain. Twelve of the 17 hotels are in the southern city of Valencia and tourist hotspot the Canary Islands.
AIG Investments has provided a $140m, 15-year fixed rate loan to TRT Holdings and JMI Realty for the refinancing of the Omni San Diego hotel in San Diego, California. The 200,000 sq ft, 511-room convention center hotel is located at 675 L Street in downtown San Diego’s Gaslamp Quarter, across the street from the San Diego Convention Center.
UK insurer broadens debt horizons