Global real estate company Stoneweg has launched a leisure property investment venture with a plan to commit an initial €100m across seven projects in Spain, France and the US.
The manager said the Stoneweg Places & Experiences platform is investing €20m to develop three projects in Spain, adding that it has four other projects in the pipeline in Paris, Miami, and Barcelona, which will bring the total initial investment in the platform to €100m, funded through a mix of Stoneweg and client capital.
The Spanish projects include Palau Martorell, a multipurpose space hosting temporary exhibitions by established, international artists, located in the Gothico District in Central Barcelona; The America’s Cup Experience, the official general public exhibition and immersive experience centre for the 37th Americas Cup; and The Belbo Collection, a Mediterranean-themed casual dining concept across an initial five restaurants in Barcelona and Madrid city centre locations.
Stoneweg said the three initial projects are being undertaken alongside joint venture partners.
The manager said it will also “continue to invest in individual projects separate to the platform as part of its broader commitment to creating unique leisure and cultural experiences” with a strong social impact.
Jaume Sabater, CEO and co-founder of Stoneweg, said: “Innovation and imagination are central to the Stoneweg DNA, and the Places & Experiences concept is a natural extension of our global investment management platform that aligns with our strategy to think creatively to deliver value to our investors.
“Customer expectations are rising faster than at any time in history – they expect every interaction, end to-end, to be the best experience they have. The first three projects, working alongside best-in-class partners, all share the same characteristics – an elevated customer experience, hosted in prime locations in Europe’s most vibrant metropolitan hubs, where we can offer a first-of-its-kind product whilst delivering attractive returns on behalf of our investors.”
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