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Uría Menéndez advised the ECS fund on the sale of Hotel do Caracol, Azores

September 12, 2024

The firm advised ECS on the sale of the four-star Hotel do Caracol in Angra do Heroísmo, Azores, by Imoangra, S.A. and Imoangra II, S.A.

The property was sold to Property Core Real Estate Fund - Fundo de Investimento Imobiliário Aberto, an entity managed by Square Asset Management - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. and the hotel business unit was sold to Açores 2000 - Sociedade de Desenvolvimento Turístico dos Açores S.A., a Bensaude Group company.

The team was led by Francisco da Cunha Ferreira (partner, Real Estate) and included António Castro Caldas (partner, Tax), Gonçalo Reino Pires (counsel, Real Estate and Urban Planning), Joana Mota (supervising associate, Privacy and Cybersecurity), Susana Bradford Ferreira (senior associate, Employment), João Fernandes Thomaz (senior associate, Real Estate), Carolina Arantes e Oliveira Maia (associate, Real Estate and Urban Planning) and Filipa Lima de Matos (associate, Privacy and Cybersecurity).