Global investment firm Värde Partners is selling Hotel Barcelona Apolo to its current operator Meliá Hotels International for €96 million. The property had attracted the attention of over 20 institutional investors.
Héctor Serrat, Managing Director at Värde says “There was strong demand for the asset demonstrating the attractive dynamics that underpin the Spanish hospitality sector, and its ability to thrive as lockdown restrictions ease.”
Spain remains a market of interest for Värde : “We continue to look for opportunities to invest across the Spanish real estate market, from both an equity and lending perspective, and believe we can play an important role in supporting hoteliers as they look to reopen and stabilize their businesses” Serrat says.
Värde Partners had acquired the property in 2015 with the objective to create value through refinancing and an investment programme to establish it as a leisure and business destination.