The Spanish company Mazabi, specialising in managing family real estate assets, has acquired a hotel building on Calle Leganitos in Madrid. The amount of the transaction was not disclosed.
The property has a surface area of 3,290 square metres, distributed over two below ground level floors and eight above-ground floors. The management company plans to completely refurbish the property, which will later house a 92-room boutique hotel.
The management company finalised an agreement with Room007 Hostels & Hotels, which will operate the asset and the retail premises included on the ground floor. This is Mazabi’s second contract with Room007, with whom it reached an agreement in February 2020 to manage its 74-room boutique hotel on Calle Tetuán in Seville.
Room007 currently operates seven assets in Madrid, Seville and Lisbon, and is growing rapidly, with 15 additional projects in different stages of development in Spain, Portugal and England.
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