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Andbank Launches a Fund to Purchase Hotels in Spain

The private banking firm has started to raise up to 200 million euros to buy holiday hotels along the Spanish coast.

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Take advantage of the current situation to achieve investment returns in the double digits. That is the objective that Andbank has set for the launch of a new private equity fund whose main investment objective will be hotels along the Spanish coast.

The private banking firm has already begun to probe the market to raise between 150 and 200 million euros which will be used to buy between six and ten hotels -the strategy will involve both the purchase and management of properties- ranked in the four-star category and with between 150 and 200 rooms each, reports Expansión. Andbank plans to close these acquisitions in areas such as the Canary Islands and the Balearic Islands as well as along the Costa del Sol (Málaga).

Read the full article in Spanish.

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