40
66
133
135
56
155
31
35
65
84

hospitality Assets News: Spanish Real Estate Intelligence

Vivenio, Millenium & Atom Invested €543M in New Purchases in 2019

9 January 2020 - Eje Prime

Vivenio and the hotel Socimis drove the MAB in 2019. The Socimi controlled by Renta Corporación, plus Millenium Hoteles and Atom Hoteles together invested €543 million in new acquisitions during 2019. That figure accounted for 71.2% of all the funds spent on asset purchases by the MAB's Socimis during the year.

Specifically, Vivenio invested €234 million, including €75.5 million on some of the Operación Calderón plots; Millenium closed 3 operations amounting to €192.4 million, including the purchase of 2 buildings in central Madrid which it is going to convert into a 5-star hotel; and Atom Hoteles spent €116.6 million on 5 hotels in Madrid, A Coruña, Cádiz, Tenerife and Gran Canaria.

In total, all of the Socimis on the MAB spent €762.1 million on the purchase of assets during 2019, up by 34.1% compared to 2018.

Original story: Eje Prime (by Marc Vidal Ordeig)

Translation/Summary: Carmel Drake

 
CBRE: Hotel Investment Fell by 49% in 2019 Due to Lack of Large Deals

8 January 2020 - Expansión

According to CBRE, investment in the hotel real estate sector amounted to €2.5 billion in 2019, down by 49% YoY. In total, 126 hotels changed hands last year, containing 15,000 rooms, together with another 3,200 planned rooms.

Most of the transacted properties were individual assets (72%), with just 28% of the hotels forming part of portfolios, down from 65% in 2018. The main reason for the decrease is a reduction in corporate operations in 2019. Blackstone took the market by storm in 2018 when it made a takeover bid for the Socimi Hispania, which was the largest hotel owner in Spain.

By type of asset, more than half of investors (51%) invested in urban assets in 2019, resulting in a decrease in investment in the vacation sector.

Original story: Expansión (by Rocío Ruiz)

Translation/Summary: Carmel Drake

 
CBRE GI to Invest €350M in Real Estate Projects in 2020

6 January 2020 - Eje Prime

CBRE GI is entering the real estate finance market. Following its acquisition of Laxfield Capital, a British real estate debt platform, at the end of last year, the group has announced that it is going to invest €350 million in new purchases in 2020, focusing not only on the acquisition of assets but also on the commissioning of real estate projects.

CBRE GI already reported that the Spanish market will be a clear objective for this new line of business. Last year, the firm invested €350 million in Spain and Portugal, where it currently owns 13 shopping centre, 43 logistics platforms, 3 office buildings, 10 hotels, 37 halls of residence and 73 homes.

Original story: Eje Prime 

Translation/Summary: Carmel Drake