Dospuntos Sells Hotel in Malaga to European Fund for €27 Million

 

8 August 2017

The Vincci Selección Posada del Patio Hotel in Malaga has been acquired by the European real estate investment fund Internos Global Investors.

Dospuntos is unloading of one of its assets. The Vincci Selección Posada del Patio Hotel in Malaga has been acquired by the European real estate investment fund Internos Global Investors for 26.75 million euros. Dospuntos, controlled by the US fund Värde Partners, was advised in the deal by the real estate consulting firm JLL.

The hotel, one of only two five-star hotels that exists in the city of Malaga, has 106 rooms and a total area of approximately 11,300 square meters spread over seven floors. Vincci Hoteles has operated the hotel since its construction in 2010 through a long-term lease.

Dospuntos was created from the former real estate development company Grupo San José (which in turn originated from the ex-Parquesol). The developer started operations with land sufficient to build 7,000 homes, to which purchases worth 2 billion euros will be added by 2025.

Original Story: EjePrime

Translation: Richard Turner

NH Replaces Meliá As Operator Of Hotel Suecia In Madrid

22 January 2016 – Expansión

The NH Hotel Group is strengthening its presence in Madrid. The chain will replace Meliá as the operator of Hotel Suecia after the property was purchased by the fund Internos Global Investors for €45 million. The consultancy firm JLL has served as advisor to the operation. The hotel will close this summer and will reopen in September as the 5-star NH Collection Cibeles – it is currently a 4-star hotel. NH, which will operate the property under a lease arrangement, now has more than 30 hotels in Madrid and may grow its portfolio further, albeit selectively.

Over the next four years, NH plans to open 19 hotels in 13 countries. In 2016, it will open properties in Spain, Italy and Mexico, amongst others. NH will also continue refurbishing hotels with a focus on the NH Collection, its premium brand.

Revenues in Spain, Portugal and Andorra rose by 8.9% during the 9 months to September and accounted for 23% of the group’s total income.

Original story: Expansión (Y.Blanco)

Translation: Carmel Drake