The investment fund Emin Capital plans to invest a total of 150 million euros to buy and transform the property into a Four Seasons hotel.
After buying the Deutsche Bank building in Barcelona for 90 million euros, the Spanish investment fund, Emin Capital, plans to invest 60 million additional euros in the property to make it a 5-star hotel.
Representing an investment of some 150 million euros, the new hotel will have 150 rooms and will be operated under the Four Seasons brand. It will thus become the brand's first address in Spain. The property will not open its doors before 2017, when all current leases come to term.
This is not the first conversion for Emin Capital, which last year acquired the Torre Agbar, also in Barcelona, to open a hotel operated under the Grand Hyatt banner.
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