Real I.S. AG has announced the successful acquisition of a modern hotel property in the city centre of Barcelona. Seller is Union Investment. The Barceló Raval hotel has been part of the open-ended real estate retail fund UniImmo: Europa since 2013. Completed in 2008, the building offers a rental area of around 9,660 square metres. It is located in the El Raval district which is part of the touristically attractive old town. The parties have agreed not to disclose the price of the deal. The financing partner was Deutsche Hypo - NORD/LB Real Estate Finance. Consultants of Real I.S. were Linklaters Madrid and Noerr Munich (legal advice), BDO Madrid (taxes), Arcadis Madrid (technical issues) and Savills (commercial topics). Union Investment availed itself of the advice of Pérez-Llorca Madrid (legal and tax-related advice) and Colliers Spain (intermediary).
“Currently the European hotel market offers thrilling opportunities. With its solid economic performance, this excellently located and unique high-quality landmark property exactly fits our investment profile. We are delighted to have been able to secure for our investors a well-positioned property in a popular international tourist destination with this acquisition,“ explains Franz Krewel, Member of the Board of Management of Real I.S. AG.
André Pinto Gomes, Senior Investment Manager Hospitality at Union Investment comments: “Due to the strong performance of the hotel market in recent years, the Spanish hotel transaction market can be classified as early-cyclical by European standards and is seeing lively interest from investors. We are pleased to have successfully seized the market opportunity presented by this transaction. It also makes a positive contribution to the distribution yield of the UniImmo: Europa.”
The four-star hotel Barceló Raval is operated by a family-run business. With about 90 hotels in Spain and 300 hotels worldwide, the tenant has in-depth market know-how and a strong credit rating. The property has a cost-efficient size with a total of 186 hotel rooms. A 360-degree roof terrace offers a spectacular view of the Spanish metropolis.
Barcelona is among Europe’s leading hotel markets and attracts several million tourists every year, and the trend is upward. Further growth of the hotel market has been forecast for the coming years.
About the Real I.S. Group
The Real I.S. Group has a track record of more than 30 years as BayernLB’s fund provider specialised in real estate investment. As a member company of the Savings Banks Finance Group, the Real I.S. Group ranks among the leading asset managers in the German market. Along with alternative investment funds (specialised institutional AIFs and closed-ended retail AIFs) and an open-ended retail real estate investment fund, the range of products and services comprises customised investment fund solutions, club deals, joint ventures and asset management mandates for institutional clients. More than 75 percent of the aggregate portfolio is classified as a financial product under Article 8 of the EU Sustainable Finance Disclosure Regulation. Real I.S. Property Management GmbH completes the range of services. The company has assets of around EUR 12.5 billion under management. The Real I.S. Group has two licensed investment management companies (KVG) established under the German Investment Code (KAGB) and offices in France, Ireland, Luxembourg, the Netherlands, Spain and in Australia. More information is available on the company's websites at www.realisag.de or www.realis-australia.com.au.
About Union Investment
For 60 years, Union Investment has stood for reliability, sustainability and a consistent focus on quality in asset and investment management. With assets under management of currently around EUR 55 billion in open-ended real-estate funds, special funds, and service and pooling mandates, Union Investment is one of the leading providers of real estate solutions for retail and institutional investors in Europe. The company focuses its investments on properties in the office, retail, hospitality, logistics and residential sectors. Its global real estate portfolio consists of around 475 properties in 24 national markets worldwide. For more information, please visit: www.union-investment.de/realestate
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