The Arcano Value Added Real Estate II fund has acquired an industrial building in the city of Barcelona with the intention of converting it into a Meininger branded property.
The 6,500 m² industrial building, until recently unused, will be rehabilitated by the architectural firm L35, which will refurbish and renovate it into a 163-room hotel meeting the highest standards of energy efficiency and sustainability.
The first Meininger-branded hotel in Spain is scheduled to open in 2024. It will add to the chain's portfolio of 34 properties in 23 European cities such as Amsterdam, Berlin, Copenhagen, Milan, Munich, Paris, Rome and Vienna.
We are very proud to have closed this deal. At Arcano Real Estate, we have demonstrated a great ability to identify assets with potential and turn them into first-class buildings [...] It is an honour to have assisted Meininger Hotels in entering the Spanish market and we look forward to delivering the hotel they have been waiting for to start their journey in our country.
Alejandro Adán, Real Estate Partner at Arcano Partners
Meininger's hybrid hotel product will be a great contribution to the local hospitality market. Our concept meets the needs of families, groups, backpackers and business travellers.
Nicolas Capelle, Vice President of Development and Asset Management, Meininger Hotels
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