AXA IM Alts acquires Barcelona hotel

hotel Sofia was obtained in joint endeavor with Spanish-based partner Blasson Property Investments, who functioned as running partner. It was obtained from Selenta Group, Brookfield’s Spanish hospitality platform

The 19- floor hotel boasts 465 guestrooms, 2 bars, a dining establishment, a café, a roof dining establishment and bar balcony, in addition to health centers consisting of a health spa, a fitness center, and an indoor and outside swimming pool.

Originally integrated in 1974, the hotel went through detailed restoration works in between 2016 and2019 Upon conclusion of the acquisition, it will go through a rearranging program in order to improve even more its requirements, features, and sustainability qualifications.

Following the repositioning of the residential or commercial property by AXA IM Alts, it will be run by worldwide hospitality group, Hyatt International.

The luxury residential or commercial property lies in the Les Corts enterprise zone of main Barcelona. It stands 10 minutes’ walk from 2 city stations and fifteen minutes from El Prat airport on public transportation.

The acquisition brings AXA IM Alts’ handled portfolio to over 13,000 secrets throughout 60 hotels in 13 nations.

With the shipment of brand-new hotels in Barcelona constrained yet year-round need for hospitality in the vibrant city continuing in an upward trajectory, this acquisition represents a chance to take advantage of AXA IM Alts’ market-leading property management competence to update a top quality property and capitalise on beneficial market demographics.

Esther Escapa, Head of Real Estate Transactions & & Development Iberia at AXA IM Alts