Barcelona-based real estate manager Eurostate has signed a collaboration agreement with a private hotel investment fund to purchase boutique hotels in the principal cities of Spain and the main European capitals. One of the largest sovereign wealth funds (SWFs) is an investor in the fund, Eurostate said.
Barcelona-based real estate manager Eurostate has signed a collaboration agreement with a private hotel investment fund to purchase boutique hotels in the principal cities of Spain and the main European capitals. One of the largest sovereign wealth funds (SWFs) is an investor in the fund, Eurostate said.
The collaboration is focused on the development and re-conversion of emblematic buildings, the acquisition of existing hotels, strategic alliances with local hotel groups and franchise contracts with own luxury brand name.
The fund has reserved about EUR 150 mln in private equity to invest in the new few years.
