Uría Menéndez advises ECS on hotel sale in the Azores
Uría Menéndez has provided legal counsel to ECS on the sale by the companies Imoangra and Imoangra II of the four-star Hotel do Caracol, located in Angra do Heroísmo, Azores. The property was sold to Property Core Real Estate Fund – an Open Real Estate Investment Fund managed by Square Asset Management, Sociedade Gestora de Organismos de Investimento Coletivo. The hotel business unit was sold to Açores 2000 – Sociedade de Desenvolvimento Turístico dos Açores, a company within the Bensaude Group, and the transfer of the hotel business took place on July 31, 2024.
The advisors’ team
The Uría Menéndez team was led by Francisco da Cunha Ferreira (partner, Real Estate, pictured left) and included the participation of António Castro Caldas (partner, Tax, pictured right), Gonçalo Reino Pires (counsel, Real Estate and Urban Planning), Joana Mota (managing associate, Privacy and Cybersecurity), Susana Bradford Ferreira (senior associate, Labor), João Fernandes Thomaz (senior associate, Real Estate), Carolina Arantes e Oliveira Maia (junior associate, Real Estate and Urban Planning), and Filipa de Matos (junior associate, Privacy and Cybersecurity).
Property Core Real Estate Fund – Open Real Estate Investment Fund, managed by Square Asset Management – Sociedade Gestora de Organismos de Investimento Coletivo, was advised by Square’s legal department. Açores 2000 – Sociedade de Desenvolvimento Turístico dos Açores was advised by Amaral Cabral & Associados – Sociedade de Advogados, R.L.
