Novobanco buys 2 hotels in Tróia

Novobanco has bought the Aqualuz Tróia Mar & Rio and The Editory By The Sea Tróia-Comporta from Sonae Capital.

The two hotel units which wee part of Tróia Resort were bought by a Novobanco pension fund according to the news site ECO.
The deal is said to have cost €34 million and is considered “one of the largest hotel real estate investment operations in the Portuguese market since the beginning of the year”, said the consultancy JLL which accompanied the operation.
The purchase of the two hotels should garner a yield of around 5.75%. Despite selling the hotels, The Editory Hotels, which belonged to the hospitality business arm of Sonae Capital, will continue to manage them in a sale&leaseback model.