Recently launched Spanish REIT Hispania Real Socimi has acquired the Meliá Jardines del Teide hotel on the Canary Island of Tenerife for €37 mln in cash.
Recently launched Spanish REIT Hispania Real Socimi has acquired the Meliá Jardines del Teide hotel on the Canary Island of Tenerife for €37 mln in cash.
Meliá Jardines del Teide is a four-star hotel with 300 rooms located in Costa Adeje to the south of Tenerife. The hotel includes over 12,000 m2 of gardens, three swimming pools with solarium, bars and restaurants, three conference rooms with capacity for up to 450 people, discos and squash courts.
The hotel is currently operated under a rental contract and is managed by the Spanish hotel group Meliá. ispania said it plans to reposition the asset and retain Meliá as the hotel’s operator.
'The acquisition of a high quality asset such as the Meliá Jardines del Teide hotel fits perfectly within our strategy of investment in consolidated holiday destinations and it offers a repositioning potential which we expect to materialize with our business plan,' said Hispania board member Concha Osácar.
Including this deal, Hispania has invested €347 mln representing around 65.2% of the net proceeds raised in its IPO last March. Its current portfolio encompasses 91,218 m2 of offices in Madrid and Barcelona, 412 residential units and four hotels totalling 639 rooms.
Hispania, which is externally managed by Azora, raised a total of €550 mln via an IPO in March.
