Propertymall commercial property in the UK online Propertymall commercial property in the UK online Propertymall commercial property in the UK online Propertymall commercial property in the UK online Propertymall commercial property in the UK online Muchimmo
Saturday, 23 May 2015, 15:52 BST
You are here:
 Property News 
Hilton London WembleyQuintain sells 50% interest in Hilton London Wembley hotel for £40m
Quintain has accepted an offer for its 50% interest in the 361 bedroom, four...
Bury House, City of London.WELPUT makes maiden City of London buy with Bury House
West End of London Property Unit Trust (WELPUT) has purchased the freehold of Bury...
Crown Estate and Oxford Properties in £145m partnership extension
The Crown Estate and Oxford Properties have agreed a £145m extension to the St...
PITCH charity fund buys £20m of UK commercial properties from the National Trust for Scotland
Mayfair Capital's flagship fund, The Property Income Trust for Charities (PITCH), has increased its...
FCA formally signs for new 425,000 sq ft London HQ at The International Quarter
Lend Lease and London & Continental Railways (LCR), joint venture partners in The International...
Stenprop buys London Spotify HQ for £75m
Stenprop has purchased 25 Argyll Street in London for £75 million 25 Argyll Street...

Union Investment - Europe, Union Investment buys iconic Barcelo hotel in Barcelona for €37 million

Date: 05 Mar 2013

IHIF 2013: Union Investment buys iconic Barcelo hotel in Barcelona for €37 million

Union Investment has continued its expansion into the European hotel market with the purchase of the 4-star Barcelo Raval Hotel in Barcelona, Spain.

The hotel, acquired for €37 million, is leased to Barceló Hotels and Resorts on a 20 year lease, with an option to extend.

CBRE was appointed to sell the hotel with a €40 million price tag back in May last year (as reported by Propertymall.com).

The 186 room hotel, built in 2008, is centrally located downtown near the famour promenade Les Ramblas.

"Barcelona one of the leading travel and conference destinations in Europe, providing excellent conditions for our first hotel investment in Spain", says Dr. Frank Billand of Union Investment Real Estate.

In December 2012, Union Investment acquired its first Barcelo hotel, situated in Hamburg.

"Barceló is a new interesting partner for further transactions. We look forward to the international expansion of Barceló accompanying as an investor in strategic locations further" Dr. Billand said.

Barceló is the third largest Spanish hotel operator and one of the largest tour operators in the country, with 141 hotels in 17 countries across Europe, Latin America and the U.S.

Union Investment now has over 22 hotel brands worth 1.7 billion euros. In has the last three years, Union Investment has invested around 400 million euros in new hotel properties for its funds.

Follow all the hotel news from the IHIF hotel conference in Berlin right here on Propertymall.com, and on twitter @property_mall and #IHIFberlin

Go to http://www.propertymall.com/property-news/latest/leisure/ (copy and paste in your browser) regularly to catch all your hotel news.

Barcelo Raval hotel, Barcelona, Spain.
Barcelo Raval hotel, Barcelona, Spain.

  [ top ] Home | News | Property | About Us | Terms | A-Z

© 2015 Muchimmo Limited, London