Spain's Reyal Urbis has acquired a 50% stake in the historic Silva Amado building in Lisbon for EUR 20 mln. The 18th century property provides some 9,000 m[sup]2[/sup] of gross space that will be converted into a 55-room, five-star hotel, Reyal said. The Spanish company already owns 50% of the asset, that was initially earmarked for conversion into apartments.
Spain's Reyal Urbis has acquired a 50% stake in the historic Silva Amado building in Lisbon for EUR 20 mln. The 18th century property provides some 9,000 m2 of gross space that will be converted into a 55-room, five-star hotel, Reyal said. The Spanish company already owns 50% of the asset, that was initially earmarked for conversion into apartments.
