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Millenium Sells Via Castellana Hotel to Ibervalles Family Office

The socimi agreed with one of its major shareholders, Ibervalles, to sell the company that owns the Hotel Vía Castellana in Madrid.

News in the Spanish hotel market. After a few months with hardly any transactions, due to the impact of Covid 19 and the difficulty in closing prices that would satisfy buyers and sellers, the tables have recently begun to turn.

The latest case is that of the socimi Millenium Real Estate. Listed on BME Growth, Millenium has taken advantage of the pandemic to expand its real estate portfolio.

It has also taken advantage of the pandemic to sell assets. The company will propose to sell one of its most renowned hotels in Madrid, the Vía Castellana hotel, at the next general shareholders’  meeting.

Located next to Plaza de Castilla, in the heart of Paseo de la Castellana, the hotel has been part of Millenium’s portfolio since its IPO in 2019. It has 228 rooms, four stars and is currently managed by the Hotusa Group.

Read the full article in Spanish

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