19 March 2018 – Business Wire
HFF Real Estate Limited (HFF) announces the €110 million first mortgage financing for the acquisition and redevelopment of Ikos Andalucía, a 400-room, luxury seafront resort in Andalucía’s coastal area of Estepona.
The HFF team has worked on behalf of the borrower, Ikos International, to place the five-year, floating-rate loan with Starwood European Finance Partners Limited, an affiliate of Starwood Capital Group. The loan proceeds will be used to acquire an existing hotel and institute a property improvement plan that includes reconstructing and refurbishing all existing hotel rooms, enhancing the arrival and lobby experience, expanding and repurposing the public spaces and rebranding the asset to the Infinite Lifestyle concept of the Ikos Resorts brand.
Created only three years ago, Ikos Resorts is an innovative owner-operator of luxury all-inclusive resorts throughout the Mediterranean that currently manages two operating properties in Greece with two others being delivered in May 2018 and May 2019, respectively (…) Ikos Andalucía, which will be the fifth hotel within the Ikos Resorts’ platform, is the venture’s inaugural resort in Spain (…).
Ikos International, established in 2018, by main shareholders Andreas Andreadis, Mathieu Guillemin, Oaktree Capital Management LP, Goldman Sachs Asset Management, Hermes GPE and two family offices is responsible for the international expansion of Ikos Resorts, a leading European luxury hospitality company with in excess of 1,800 rooms being owned and operated or under development (…).
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry (…).
Original story: Business Wire
Edited by: Carmel Drake