European real estate investment manager ActivumSG has secured a €133.7m loan from Cheyne Capital to finance the acquisition a newly built, five-star luxury resort located in Spain’s Costa del Sol.
Cheyne Capital has provided the senior loan to finance the acquisition of Fairmont La Hacienda Costa del So, which officially opened its doors in February this year.
Daniel Schuldes, co-head of European real estate at Cheyne Capital, said: “We continue to think high-quality, well-capitalised luxury assets like this will perform well in today’s market, and we’re confident that the ActivumSG team, with its impressive track record in the Spanish hospitality sector, is the ideal partner for this project.”
Brian Betel, head of direct asset transactions at ActivumSG, said: “This investment is underpinned by our deep research, which points to the continued growth and resilience of Spanish hospitality real estate.
“Recent industry data shows that demand for luxury resorts and branded residences in Spain continues to outpace supply, supported by longer summer seasons and evolving travel patterns.”
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