The Canadian hotel chain Four Seasons intends to land in Barcelona. It has been weighing up the Spanish market for the last few years, and now, after finding its place in Madrid, has also found the perfect spot in Barcelona. The hotel group, together with Emin Capital, the fund that has acquired the Agbar Tower in order to open a Hyatt hotel, is now planning to acquire the headquarters of Deutsche Bank in order to transform it into another hotel.
Emin Capital, presided over by the Andorran businessman Jordi Badia, has created a fund with 400 million Euros from European institutional funds and Spanish family offices to invest in the real estate market.
The first acquisition has been the Agbar Tower, after paying 250 million Euros. After investing another 60 million Euros, it will be transformed into a hotel of nearly 400 rooms. Now, according to sources close to the operation, it is negotiating the acquisition of the Deutsche Bank building for an amount close to 82 million Euros. The same sources assure that their intention is to transform the building into a five star hotel with around 150 rooms. Emin Capital has negotiated a management agreement with the Canadian chain Four Seasons, who has been searching for the right building in Barcelona for years, and is now extremely interested in the property.
The operation is still pending, as the building has tenants. Apart from Deutsche Bank, there is also a law firm, Cuatrecasas Gonçalves Pereira. The owners of the building, the Andorran families Reig, Arqué and Ribas, are negotiating with the tenants to try to reach an agreement
As well as the operation with the Agbar Tower, the acquisition of this property will need banking financing. (…)