The asset management arm of Engel & Völkers is preparing to enter the hotel segment. Engel & Völkers Asset Management has launched an investment fund in this asset class with an investment capacity of 500 million euros.
In fact, it has already used the vehicle to channel its recent acquisition of the luxury hotel 7Pines Resort in Ibiza. The fund paid 130 million euros for that asset, which comprises 185 suites, spread over a surface area of 56,000 m2, in the style of a town with Ibiza-inspired whitewashed houses, 3 restaurants, 3 bars, a spa and wellness center, a kids club, 3 swimming pools and 2 Pershing Yachts available to charter.
Read the full article in Spanish.
