• Transaction / Assets
    Elaia Buys a Hotel Complex in Menorca for €17.5 Million
  • Seller
    n/a
  • Buyer
    Elaia
  • € MM
    17.5

Elaia Buys a Hotel Complex in Menorca for €17.5 Million

26 March 2018

Elaia, a socimi 66%-owned by Batipart, mainly specialises in tourist accommodations, a sector that accounts for 86% of its portfolio of assets.

Elaia Investment Spain is fattening its asset portfolio through new acquisitions. The socimi reported today that it had bought a hotel complex in Menorca for 17.5 million euros. The socimi advised the Market Alternative Stock Market (MAB) that asset will be operated by Pierre & Vacances.

The complex, called Edén Binibeca, has an area of 9,005 square meters, is located on San Luis’ (Menorca) waterfront. The property has 150 apartments, three swimming pools and a restaurant, among other areas.

It is Elaia’s first asset in Menorca and its fifth in the Balearic Islands, according to the same source, which has pointed out that the self-financed operation includes the signing of a long-term lease with Pierre & Vacances, which already runs eight of the socimi’s assets.

Elaia, a socimi 66%-owned by Batipart, mainly specialises in tourist accommodations, a sector that accounts for 86% of its portfolio of assets, which is currently made up of two residential buildings in Madrid, six tourist apartment complexes and six hotels.

Original Story: EjePrime

Translation: Richard Turner

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