alternative Assets News: Spanish Real Estate Intelligence

The Student Hotel Raises €90-Million in Financing for New Investments
14 October 2019 The Netherlands-based student hotel group The Student Hotel (TSH) announced that it had obtained €90-million in bank financing Santander, Sabadell and HSBC. TSH will use the funds to build two new hotels in Madrid and Barcelona as well as to refinance its existing debts in Spain. The investments are part of a €2-billion investment strategy that the group plans to implement over the next five years in Europe. TSH is currently working on three projects in Spain: Madrid La Imprenta (340 rooms), Barcelona Provençals (300 rooms) and the TSH San Sebastian (328 rooms). Original Story: Hosteltur Adaptation/Translation: Richard D. K. Turner
Aldara Building Three New Student Residences in Oviedo, Salamanca and Barcelona
14 October 2019 Aldara, a Spanish developer, is building three new student residences in Oviedo, Salamanca and Barcelona. The three new developments will add a total of 983 new beds to the company's portfolio in a combined investment of sixty million euros. The development in Oviedo is in the early stages of construction, with plans for 317 beds to be ready by May 2021. The complex consists of three buildings, with an area of 2,739 square meters and parking for 77 vehicles. The project in Salamanca will have 270 rooms (July 2021), while the one in Barcelona will have room for 400 students (July 2022). Original Story: Eje Prime - Marc Vidal Ordeig Adaptation/Translation: Richard D. K. Turner
The Abarca Family Sells Two Hospitals in Sale and Leaseback Operation
8 October 2019 The Abarca Cidón family, the owner of HM Hospitales, has finalised the sale of the properties where two of its main healthcare centres, HM Sanchinarro and HM Torrelodones, are located for approximately 150 million euros to an unnamed US fund. The Abarca family sold the assets in a sale & leaseback operation whereby the family is seeking to reduce its total exposure to the healthcare sector. At the same time, the family’s fund, patrimonial ACCT 2010 Management Initiatives, has just inaugurated a hotel in Lisbon and they are finalising work on another in Porto. Casual Hotels, the Valencian chain of themed urban establishments, will operate the two hotels. Original Story: El Confidencial - Víctor Romero / Carlos Hernanz Adaptation/Translation: Richard D. K. Turner