Maslow Capital has provided senior financing to support Selecto’s first hotel portfolio on the Iberian Peninsula, comprising four projects with a combined gross development value of over €200 million.
The platform, developed by Tikehau Capital in partnership with Quest Capital, will focus on limited-service city hotels and will include properties in MadBit and Las Tablas, in Madrid; near FYCMA, in Málaga; and in L’Hospitalet de Llobregat, next to Plaza Europa and Fira Barcelona.
The four properties will operate under the Holiday Inn Express brand through a franchise agreement with IHG Hotels & Resorts. Construction has already begun on the project located in MadBit, which will be the first in the portfolio to enter the development phase.
The financing forms part of the growth in alternative debt structures applied to operational assets, particularly in hotel projects that require structures tailored to their various phases of construction and operation.
In recent months, Maslow Capital has expanded its activities in Spain through transactions in the hotel, logistics, residential and other operational property sectors. Emilio Silvestre, the firm’s managing director in Spain, noted that the transaction reflects an interest in platforms with growth potential, scalable models and projects backed by established operators.
Selecto was established with the aim of developing a portfolio specialising in the ‘select service’ segment, a model that combines a limited range of services with more streamlined operational structures than those of traditional hotels.
