Sareb sells Mallorca apartment hotel to Sineu Inversiones for €3 million

The Management Company for Assets from Banking Restructuring (Sareb) in Spain has sold an apartment hotel located in Manacor (Mallorca) to Sineu Inversiones for three million euro. The 3-star Vistalegre Aparthotel is located in Cala Mendia (Manacor) and consists of 42 rooms. The complex also has common areas, a swimming pool and gardens.

The company closed the sale of the property to a local investor with the support of Altamira Asset Management. As of the end of 2019, Sareb managed a portfolio in the Balearic Islands whose net book value exceeded €170 million.