Cerberus and Orion pick up Sotogrande

It was reported in April this year that Oaktree and Cerberus were among bidders for the real estate unit, as NH Hotels looked to reorganise the company.

The deal includes only Sotogrande's domestic assets, not its operations in Mexico, the Dominican Republic and Italy.

Company
Sotogrande comprises a luxury property development in Cadiz, including land zoned for golf courses, a polo centre and a private marina.

Under the terms of the transaction, the company will remain under NH Hotel's management for at least two years.

People
Federico J González Tejera is CEO of NH Hotel.

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• Topics
• Southern Europe
• Real estate
• Buyouts
• Cerberus Capital Management
• Oaktree Capital
• Spain