Atom Hoteles Acquires Hotel in Cádiz for €15 Million

4 December 2019 –

The socimi Atom Hoteles has finalised the acquisition of a hotel in Cádiz for 15 million euros. The four-star hotel is located in the city’s historic centre.

The socimi funded the operation using equity but is also studying possible debt financing. Atom Hoteles will also sign a ten-to-twenty year management contract with Hoteles Playa group.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Alantra REIM Acquires NH Sotogrande in Cádiz

8 October 2019 – Alantra has finalised the acquisition of the NH hotel in Sotogrande, Cádiz, through its subsidiary Alantra REIM.

Alantra REIM’s portfolio will now comprise three assets: the Hotel Dénia La Sella Golf Resort & Spa, the Islantilla Golf Resort (both acquired in 2018) and the NH Sotogrande. The latter hotel is a four-star unit with 96 rooms. The hotel also has other facilities such as a swimming pool and paddle tennis courts.

Original Story: El Economista – Araceli Muñoz / Rubén Esteller / Alba Brualla

Adaptation/Translation: Richard D. K. Turner

Grupo Soluciones to Build Four New Developments in Cádiz

4 September 2019

The Cádiz-based Grupo Soluciones has started construction on two residential and two hotel developments in Costa Ballenas, in the municipality of Chipiona, in Cádiz. The four different plots of land have a total surface area of 91,000 square meters, all near to the beach, and cost Soluciones a total of more than 50 million euros. The firm expects to invest 200 million euros over the next four years. Work began on the first residential development, known as Eleven Views.

One of the news hotels will be a 60-million-euro four-star unit, located in front of the Costa Ballena lake. The adults-only hotel will have 330 rooms and will start operating in 2023. The second will be a five-star, luxury hotel, adjacent to the Best Costa Ballena hotel. The hotel is expected to be the target of an 85-million-euro investment (including the land). Grupo Soluciones expects to inaugurate the hotel in 2022. The firm is currently looking for operators to manage the two facilities.

Original Story: Tourinews

Photo: ABC

Adaptation/Translation: Richard D. K. Turner

Castellana Properties Acquires Puerta Europa Shopping for €57 Million

5 August 2019

Castellana Properties, the socimi controlled by the South African fund Vukile, acquired the Puerta Europa shopping centre in Cadiz for 56.8 million euros. Located in the town of Algeciras, the shopping centre opened a decade ago and has more than 100,000 square meters of surface area, of which 29,531 square meters are commercial area.

The mall has an area of influence with more than 250,000 inhabitants, and has 100 stores, including a wide range of fashion and leisure shops and restaurants. Tenants include such established brands as Primark, Zara, H&M, Yelmo cinemas and a Mercadona supermarket.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Russian Magnate Acquires San Roque Gold Club in Sotogrande

24 June 2019 – El Confidencial

Russia’s former Minister of Industry, Viktor Khristenko, has acquired the San Roque golf club in Sotogrande from the Japanese group Asahi Kanko through his company Golf Estates.  San Roque is considered one of the four preeminent courses in Cádiz, along with Valderrama, the Real Club de Golf Sotogrande and La Cañada.

Gold Estates, which already owns three gold courses in Russia, acquired the totality of the outstanding shares of Asahi Kanko SAU (AKS) , a Spanish subsidiary of the Tokyo-based golf course group. AKS currently has 40 million euros in funds and revenues of €1.5 million a year.

It has a wholly-owned subsidiary, Suite Hotels, which operates the club building and the two 18-hokle golf courses. The San Roque Club also has an equestrian centre. Details of the transaction were not disclosed.

Original Story: El Confidencial – Carlos Pizá de Silva. Sevilla

Translation/Summary – Richard D. Turner

Casual Hoteles to Open 5 New Hotels in 2019

7 March 2019 – Expansión

The Valencia-based hotel chain Casual Hoteles is planning to open four new establishments in Spain in 2019 (in San Sebastián, Cádiz, Valencia and Madrid) and one in Portugal (in Lisbon). The group currently operates 11 hotels and expects to increase revenues by 58% YoY in 2019 to €12 million and to €20 million in 2020.

The firm is also evaluating its expansion into Italy, France, the Netherlands and the UK by 2023 when it expects to have 30 hotels in its portfolio and to generate revenues of €50 million.

Original story: Expansión

Translation: Carmel Drake

Taylor Wimpey España Invests €68M in Several Developments on the Costa del Sol

30 October 2018 – Eje Prime

Taylor Wimpey España is going for gold on the Costa del Sol. The Spanish subsidiary of the British real estate group, which specialises in second homes for foreigners, has invested €68 million in the launch of several residential developments along the coast of Málaga.

The company has started construction of projects such as Horizon Golf, a complex comprising 55 terraced houses in Mijas; Grandview, a complex comprising sixty lofts and apartments, also in Mijas; Green Golf, a residential development comprising 48 terraced houses in Estepona; and Pier Sotogrande, a residential complex comprising 64 apartments in Sotogrande, in Cádiz.

Taylor Wimpey España’s developments are mainly aimed at British buyers looking for second homes right by golf courses. In fact, Málaga and Cádiz account for more than 71% of all the golf courses in Andalucía, according to a report from New Trends in Golf Tourism: vision to 2020, compiled by the Confederation of Entrepreneurs of Andalucía (CEA), in collaboration with the Ministry for Tourism and Sport.

Spain is still the preferred destination for Brits to buy a home, as highlighted by the UK embassy. There are around 300,000 British people in the whole of Spain and “they are still the main overseas buyers of homes, accounting for 15% of the total”, said Marc Pritchard, Director of Sales and Marketing at Taylor Wimpey España.

In the ranking of overseas nationalities who purchase homes in Spain, the British outrank the French, who account for 8.64%; the Germans (7.77%); the Belgians (6.39%); and the Swedish, who remain as historical investors, accounting for 6.38%.

Original story: Eje Prime

Translation: Carmel Drake

Nyesa Raises Capital with New Investors & an Office Portfolio in Cádiz worth €22M

30 October 2018 – Eje Prime

Nyesa is continuing with its plan to capture investors and increase its share capital and portfolio. The Spanish real estate company has agreed to a capital increase, which will allow the company Olaf y Rubí to become one of its shareholders. Following the operation, Nyesa’s new shareholder will introduce into the company’s portfolio 95 offices in Las Torres De Hércules, in Cádiz, worth €22 million, according to a statement filed by the company with Spain’s National Securities and Markets Commission (CNMV).

The investment, which will see Olaf y Rubí acquire a 21% stake in the real estate company, is conditional upon Nyesa’s largest shareholders (the US group Gaber, the Russian investors Eldarov, Ivanov, Samodurov and the company Fanumceo) considering that the assets in question will pass an urban planning, legal, tax and financial review.

Olaf y Rubí’s portfolio is associated with a mortgage amounting to almost €4.8 million. The new shareholder of the real estate company will subscribe to a line of credit to cover all of the costs relating to the mortgage (…).

Las Torres de Hércules, located in the Bay of Algeciras, were designed by the prestigious Spanish architect Rafael de la Hoz. Their tenants include companies such as the Danish logistics giant Maersk, which houses its headquarters for Southern Europe in the complex.

Standing 126 m above the city, the building was the tallest in Andalucía for several years, until the completion of Torre Sevilla, owned by CaixaBank. The property, which comprises two towers, spans a surface area of almost 20,000 m2 and was acquired by the Socimi Brickstock in September.

Original story: Eje Prime

Translation: Carmel Drake

Brickstock Buys the Torres de Hércules in Cádiz

11 September 2018 – Eje Prime

Brickstock is acquiring real estate assets. The Socimi has completed the purchase of Las Torres de Hércules in Cádiz, in an operation whose amount has not been revealed. The building is located in the Las Marismas de Palmones complex, in the town of Los Barrios, Cádiz.

Las Torres de Hércules in Cádiz are two 20-storey buildings, each with a surface area of 1,000 m2. The properties are mainly home to offices, with 148 separate spaces with a surface area of 122 m2 each. Currently, some of them are leased to companies such as the Danish shopping firm Maersk. The construction cost of the building, completed in 2009, amounted to €40 million.

The Spanish Socimi, Brickstock, which is awaiting its imminent stock market debut, has acted in the framework of its real estate investment plan in Spain. The company already owns a significant portfolio of properties located all over the country.

Original story: Eje Prime 

Translation: Carmel Drake

AVRA Sold 21,000 m2 of Land for Social Housing in Córdoba in 2017

31 January 2018 – 20 Minutos

That is according to a statement by the Ministry of Development and Housing, which noted that four operations were closed in total for around €6 million. Most of the land sold by the Ministry in the province of Córdoba was assigned for residential use, for the development of homes for social housing purposes, up to a total of 21,258 m2 with capacity for the construction of almost 400 VPO homes in the capital’s expansion area of Huerta Santa Isabel.

The plots were awarded to the municipal housing company, Vimcorsa, which will undertake the upcoming construction of almost 300 subsidised homes, which will be added to another 78 units that the regional Administration is also planning to build in this enclave.

Moreover, plots with a total surface area of 688 m2 were awarded in the municipality of Obejo, for the construction of six private market homes, for €68,923.

Most of the plots sold were owned by the Agency for Housing and Rehabilitation in Andalucía (AVRA), which took the decision at the start of this legislature to focus again on selling land as one of its strategic lines. It had slowed down that activity in previous years, during the most critical period of the crisis, according to the regional delegate from the Ministry of Housing and Development, Josefina Vioque.

The delegate indicated that “the drive to manage the properties owned by AVRA has become a priority. The objective is to put these assets on the market to serve business initiatives that promote economic development and the generation of employment in the construction sector, one of the hardest hit during the crisis”.

Vioque expressed that “the decision to recover this activity, involving the sale of regional land, was taken in light of the fact that the market was starting to show signs of recovery in terms of real estate activity. The main objective is to generate revenues to allow us to resume other activities, such as the construction of social housing for families with housing needs and scarce or zero possibilities of affording a home in the private market, like the ones we are now promoting in Córdoba”.

The VPO activities that are going to be promoted, in addition to the developments in Córdoba, will be located in Cádiz and Málaga, where the Ministry is already working to draft the technical plans, whilst the process to obtain the necessary financing to undertake these activities is being finalised.

The land sale activity resumed by AVRA since the beginning of this legislature has resulted in the award of almost 300,000 m2 of land, of different types, at the regional level, for a total amount of €50.7 million, over the last three years.

The sum of the industrial land sold during this period, 183,055 m2, once again places that use as the one that generates the best results in terms of awarded surface area. Residential land awarded over the last three years spans almost 110,000 m2. Those plots have the capacity for the construction of 1,476 homes, of which 891 will be subsidised housing and the remaining 585 will be private homes.

Original story: 20 Minutos

Translation: Carmel Drake