• Transaction / Assets
    Hotel Villa de la Palmera, Sevilla
  • Seller
    Porres family
  • Buyer
    Tomás Olivo
  • € MM

Tomás Olivo Buys Hotel Villa De La Palmera In Sevilla

13 October 2017 – La Voz de Almería

Tomás Olivo, owner of the ‘Gran Plaza de Roquetas de Mar’ and ‘Mediterráneo’ shopping centres in the capital of Almería, has purchased Hotel Villa de la Palmera in Sevilla, an establishment where members of European royalty, artists and politicians typically stay when they are in Andalucían capital. Until now, the hotel was owned by the Porres family and its rooms have housed Ira de Furstenberg, Gina Logobrigida, Daryl Hannah, Ursula Andress and Ornela Muti.

General de Galerías, the company owned by Tomás Olivo, made its debut on the Alternative Investment Market (MAB) this summer (…). Tomás Olivo, a property developer from Murcia who now lives in Marbella, opened the ‘Mediterráneo’ shopping centre in Almería at the end of 1998 following an investment of 14,000 million pesetas. Four years later, he opened the ‘Gran Plaza de Roquetas de Mar’ shopping centre.

General de Galerías Comerciales owns a portfolio of six shopping centres and around hundred rental properties. Its shopping centres include ‘La Cañada’ shopping centre in Marbella, the ‘Nevada’ shopping centre in Armilla (Granada), the ‘Mataró Parc’ shopping centre in Mataró (Barcelona), as well as the two centres in Almeria and the ‘Las Dunas’ shopping centre in Sanlúcar de Barrameda (Cádiz).

The Socimi generates annual revenues of €87 million and has no debt since it has not resorted to bank financing for any of its development to date.

Original story: La Voz de Almería (by Manuel León)

Translation: Carmel Drake