Millenium Hotels Acquires Golf Assets from Alcaidesa for €15.2 Million

18 December 2019 – Millenium Hotels Real Estate, a real estate investment fund based in Spain, has reached an agreement with the construction company Constain to acquire land and two golf courses from the Alcaidesa Holding SAU and its subsidiary Alcaidesa Golf SLU for 15.2 million euros.

Alcaidesa had owned and operated the two golf courses, the land and a clubhouse in the municipality of La Linea de la Concepción and San Roque (Cádiz). Alcaidesa Golf is marketed as a paradise for golf lovers in the Mediterranean. There are two professional golf courses, Alcaidesa Links and Alcaidesa Heathland.

Original Story: ABC de Sevilla – Soraya Fernández

Adaptation/Translation: Richard D. K. Turner

Hesperia Acquires La Manga Resort from the Arum Group

31 July 2019

Hesperia Investor Group has reached an agreement with the Arum Group to acquire a controlling stake in the La Manga Club luxury resort. The 560-hectare resort is a tourist and residential complex with extensive sports and golf facilities and until now, was a part of the portfolio of assets of Inmogolf, a company linked to Arum. The two firms declined to reveal details of the transaction.

La Manga Club has a 192-room, five-star hotel, the Prince Felipe, which has a wide range of amenities, including an outdoor pool, gym, meeting rooms, a children’s club and playground, and an array of bars and restaurants. Also, the resort has 200 4-star flats for family vacations, with two swimming pools and restaurants. The residential complex also hosts a 2,000-m2 wellness centre, with thirteen treatment rooms, saunas, steam rooms, a training centre for athletes and a gym with a 25-meter indoor pool. The club itself has an enviable location, with three golf courses, facing the Mar Menor, the Mediterranean Sea and next to the Calblanque Natural Park.

La Manga Club will now join Hesperia’s portfolio of assets (both owned and managed), consisting of more than 5,000 rooms, 29 hotels, six resorts on the Peninsula and the Balearic and Canary Islands, along with 23 hotels in Spain’s principal cities.

The Arum Group, through its subsidiary Inmogolf, will continue to manage La Manga Club’s real estate business.  In turn, Hesperia is planning a series of investments to make La Manga the premiere resort in southern Europe.

Original Story: Cinco Dias

Adaptation/Translation: Richard D. K. Turner

Taylor Wimpey to Invest €70M in 8 Developments in 2019

22 January 2019 – Eje Prime

Taylor Wimpey is setting out its roadmap for 2019. The Spanish subsidiary of the British real estate group is going to launch eight developments with an initial investment of €71 million during the course of this year, according to comments made by Javier Ballester, the CEO of the company, speak to Eje Prime.

The company is planning to build between 350 and 400 homes in several parts of the country. Specifically, Taylor Wimpey has opted for areas where it already has a presence, namely: the Costa del Sol, Alicante, Mallorca and Ibiza. Moreover, according to the executive, “it is possible that, if we obtain the building permits in 2019, the group will launch three more developments, one in Marbella and two more in Mallorca”.

Taylor Wimpey is whereby reaffirming its commitment to the Spanish second home market, where it has been operating for more than seventy years. In fact, the company is currently one of the main property developers in the country that is building assets on beach fronts and overlooking golf courses,

In 2018, the company handed over 342 homes, 14% more than in 2017. It is currently marketing four developments in Alicante, in the municipalities of Torrevieja, Villajoyosa and Elche (…).

Original story: Eje Prime (by Berta Seijo)

Translation: Carmel Drake

Martinsa Fadesa Puts Batch Of Assets Up For Sale For €67M

5 October 2016 – Expansión

Martinsa Fadesa’s bankruptcy administrators have put a new batch of assets up for sale, under auction. The portfolio include estates, plots of land and even, several golf courses, with a combined value of, at least, €67 million. The deadline for the submission of offers will close on 3 November.

Specifically, the real estate company, which has filed for liquidation, has put the company Casasola Explotaciones Agropecuarias up for sale – it is an associate of the Martinsa Fadesa Group and the holding company owns a 48% stake in it – for a minimum price of €32.5 million. This company is the owner of several estates in the province of Valladolid, according to the website that has been created to provide information about the company’s liquidation.

In addition, the real estate company, which was controlled and chaired by Fernando Martín, has put Urbanizadora Club de Campo de Logroño up for sale, whose assets include plots of land and homes in Sojuela (La Rioja) as well as the Real Club Náutico de Sanxenxo, for minimum prices of €8.6 million and €162,000, respectively.

Meanwhile, the company has launched an auction for Guadalmina Golf, a company in which the holding company holds a 31.82% stake and whose main activity is the operation of three golf courses (two 18-hole courses and one 9-hole course), in the municipality of Marbella (Málaga). The minimum price to participate in the bid is €7.95 million. Martinsa Fadesa also wants to sell Inversiones Inmobiliarias Rústicas y Urbanas 2000, owner of an estate in El Molar (Madrid), for a minimum price of €17.9 million.

Martinsa Fadesa was declared insolvent in July 2008, with debt amounting to €7,000 million. The liquidation process began before the summer of 2015 after a court agreed months earlier to open this phase of the process for the real estate company and another five debtor entities.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

Wanda Negotiates Purchase Of 75% Of Marina d’Or For €1,200M

2 December 2015 – Expansión

The Wanda group is holding negotiations to acquire 75% of the shares in the Spanish holiday complex Marina d’Or, located in Oropesa del Mar (Castellón), which is currently owned by the businessman Jesús Ger.

The purchase will amount to around 8,200 million Chinese Yuan (i.e. around €1,200 million), according to reports yesterday by Diario del Pueblo.

The newspaper reports in its digital edition that the founder and president of the group, Wang Jianlin, the richest man in China, has already visited the complex (which includes a golf course, a theme park, five hotels and a spa, amongst other buildings) together with other representatives from the company.

The official body of China’s Communist Party cites own sources for the basis of its information. When contacted by Efe, the Wanda group declined to make any comments on the subject for the time being.

Meanwhile, the Castellon group did not want to confirm or deny the talks and merely stated that it has been in touch with several Arab, Chinese and other investors over the last few months regarding their interest in its iconic project: Marina d’Or Golf, an urban development plan that was suspended several years ago. The group itself valued the project at €1,300 million, even though not a single brick has yet been laid.

In July, Jianlin revealed that his company would make at least three major overseas acquisitions over the next six months, after it expanded its entry into the sports sector this year with the purchase of Triathlon Corporation, the owner of events’ rights such as Ironman, and Infront, one of the largest sports rights companies in the world. (…).

Original story: Expansión

Translation: Carmel Drake

Echegoyen Plans Piecemeal Sale Of Large Urbanisations

19 October 2015 – La Opinión De Murcia

Jaime Echegoyen, the President of Sareb….considers that the best way of disposing of the large residential complexes with golf courses, such as those constructed by Polaris, would be to sell them off “in a piecemeal fashion”. During the first half of the year, Murcia accounted for 4% of Sareb’s loans to property developers and 5.6% of its properties. Nevertheless, the sale of homes and premises in Murcia during the six months to 30 June 2015 represented 10% of the total and included 540 operations.

Echegoyen, who spoke to business executives at Murcia’s ‘Economy Circle’ (or ‘Círculo de Economía’) on Thursday, explained that during the morning he had visited some of the resorts built by the property developer Polaris World. This was because they have been transferred to Sareb and the entity is now trying to sell them. They include large urbanisations, with hotels and several golf courses. Nevertheless, he said that the aim of the company was to “sound out the market”, through a consultancy firm who it had engaged to find out whether there are any investors interested in buying.

His conclusion following the visit is that “there are a lot of occupied houses”, which means that the operation “will go ahead, but it will take time and the portfolio will be sold in a piecemeal fashion, because it is very big. I have been there this morning and I have seen that there are lots of people around and playing golf there. There weren’t just one or two cars, there were quite a few, which means it makes sense”. In his opinion, these large urbanisations that have been abandoned will come onto the market “gradually. The important thing is not to put everything on the market at the same tim, but rather do put assets up for sale in an orderly fashion, in such a way that we do not lower prices or overwhelm the real estate market. We could sell any kind of assets in that way, but we would generate more losses and cost the taxpayer more money. We don’t want to overwhelm the financial sector either”, he said.

For this reason, he maintains that the entity’s day-to-day sales “are small fry (in comparison). We need to take the time that has been granted to us, until 2027, to deliver our mandate and liquidate the assets that have been transferred to us, in an orderly fashion”.

The President of Sareb said that “Spain became fashionable” and attracted investors looking to make a quick buck, but he thinks that this interest “has faded now, and instead there are more investors that have a longer-term vision”. He added that “increasingly, more peopl are interested in repurchasing debt, because the asset acting as collateral may have more value than it used to and they are interested in preserving it. People are also approaching us because they want to undertake development projects on land that we have, where they want to coinvest”.

Original story: La Opinión De Murcia

Translation: Carmel Drake

Grupo Insur Buys 2 Residential Plots From Sareb

20 August 2015 – Málaga Hoy

Grupo Insur, has acquired 2 residential plots of land in Marbella, through its subsidiary IDS Residencial Los Monteros, whereby expanding its presence in the capital of the Costa del Sol.

The plots of land are located in the ‘Urbanización Altos de los Monteros’ (pictured above), which is known for having a low building density, but lots of villas. It is located in the north east of a prestigious enclave, surrounded by the Río Real and Santa Clara golf courses, as well as by green areas. The maximum permitted buildability of these plots exceeds 50,000 m2 (covered area) and the permitted building type is “Mediterranean town” (i.e. attractive, white-washed, low-rise houses).

Grupo Insur has plans to develop an attractive residential project on these plots, aimed primarily at the international market. The first developments are expected to begin in 2016.

In addition, the group is currently promoting and constructing four developments in Marbella – three in the popular Urbanización Los Naranjos de Marbella containing 67 homes; and a fourth, containing 44 homes, in La Cerquilla de Banús, known as Alminar de Marbella.

Original story: Málaga Hoy

Translation: Carmel Drake