The real estate investment company has just announced the sale of the properties to the European property manager Swiss Life Asset Managers.
The sale includes Hotel Valparaíso, Hotel Vistamar (Mallorca), Hotel Monterrey in Girona and the Eden Binibeca apartment complex in Menorca. The latter three are managed by Pierre & Vacances. Less than two years ago, Elaia acquired Hotel Valparaíso for 5.7 million euros and Eden Binibeca for 17.5 million euros. All assets are located on the waterfront and have long-term leases. This is therefore a key transaction in the Spanish hotel market, both because of the volume represented by the transaction, which has not been detailed, and because of the significant location of all the assets in two of the main holiday destinations in Spain. The transaction highlights the importance of the Spanish market as one of the main investment centres at national and international level.
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