Transaction / Assetsan office building on Calle Fomento in Madrid SellerPrinceton Investments BuyerBoissée Finances € MM45
Boissée Finances to Build a Luxury Hotel in Madrid
1 November 2019 – The French hospitality group Boissée Finances has acquired an office building on Calle Fomento in Madrid from Princeton Investments for €45 million. Boissée plans to subsequently convert the asset into a 155-room luxury hotel.
The building has 10,700 square meters of surface area and is located on the Plaza de Santo Domingo, and is thus quite close to the Gran Vía. The hotel will have a large rooftop pool and terrace, therefore overlooking the Royal Palace and with a good view of the mountains.
Original Story: Expansión – Rebeca Arroyo
Adaptation/Translation: Richard D. K. Turner