AX Partners, a real estate private equity firm specializing in Core-Plus and Value-Add investments in prime locations, has acquired the landmark modernist building located at Passeig de Gràcia 115, previously owned by RSR Singular Assets Europe SOCIMI.
The property, built in 1901 and known as Casa Joan Bertrand, is a boutique hospitality asset that also includes two high-street retail units on one of the most exclusive and sought-after avenues in the country.
The acquisition is aligned with AX Partners’ Core-Plus strategy, focused on the acquisition and enhancement of prime hospitality assets with strong real estate fundamentals, efficient asset management, and value creation potential through partnerships with leading hotel operators and brands. The firm generates returns for its private investors through the operation and appreciation of high-quality real estate assets, with long-term upside driven by the sustained growth of urban tourism.
This transaction reinforces AX Partners’ position in the Spanish prime urban hospitality market, with a particular focus on Barcelona, and supports its objective of building the leading private investment platform in prime hospitality assets across Europe. Six years after its founding, AX Partners has reached €450M in assets invested and expects to exceed €1,000M in cumulative investments over the next five years.
Aleix Recasens, Founding Partner and Managing Partner of AX Partners, commented: “This acquisition represents a further step in the consolidation of our Private Equity model and our investment strategy focused on trophy hospitality assets. Our ability to create value in real estate assets located on some of the most sought-after streets globally reinforces our position as a trusted investment partner for private capital in Spain and across Europe. In the coming years, we will continue to invest in boutique hospitality assets, offering our investors access to high-quality real estate opportunities with a low-risk profile, attractive returns and strong economic value creation.”
To date, the firm has invested in multiple transactions within the Spanish Mediterranean hospitality segment, with a portfolio that includes assets such as Casa METT Sitges, NH Collection Ibiza, Meliá Aiguablava, Diagonal 438, Diagonal 318 and Roger de Llúria 47, among others, and plans to expand its presence in Europe’s leading capitals.
AX Partners would like to thank the Garrigues and Banca March teams, whose involvement in the transaction was instrumental to its successful completion.
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