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Transaction / Assets Carrer de Sants, 387Seller Elaia Investment SpainBuyer Teleno Real Estate€ MM
Elaia Sells a Property in Barcelona to Teleno & Puts 7 Other Assets up for Sale
22 January 2020 – El Economista
22 January 2020 – El Economista
The Socimi Elaia Investment Spain, which specialises in the tourism segment, closed 2019 with the sale of a tourist apartment building in Barcelona to the fund Teleno Real Estate, launched by the businessman José María Xercavins.
The transacted property is located on Carrer de Sants, 387, in the heart of the Catalan capital, comprises 51 tourist apartments and spans a surface area of 3,287 m2.
In addition, the Socimi has another 7 assets on the market, which the French firm Swiss Life is reportedly interested in. In total, the 8 assets account for 55% of Elaia’s total portfolio, which was worth €222.1 million at the end of June 2019.
To date, Elaia has focused on growing its portfolio by acquiring assets in coastal areas with special tourist appeal for operation by big-name hotel chains. It currently has 4 hotels in Mallorca and the Costa Brava, 6 tourist apartment complexes in Mallorca, the Costa Brava and Costa del Sol, and 2 residential projects in Madrid.
Original Story: El Economista
Translation/Summary: Carmel Drake