ActivumSG acquires luxury Spanish resort
International news
European real estate investment manager ActivumSG has completed the €175 million acquisition from Spanish REIT Millenium Hotels Real Estate of the newly developed Fairmont La Hacienda located in the exclusive San Roque waterfront enclave along Spain’s Costa del Sol.
U.K.-based ActivumSG, on behalf of ActivumSG Fund VII, said it was able to execute the acquisition of 311 keys encompassing hotel rooms, villas, and branded residences, as well as two golf courses at an optimal entry point, avoiding construction risk as a turnkey transaction.
Fairmont La Hacienda, which officially opened its doors in February this year, comprises 311 keys, all of which feature seafront views; these are spread across 213 hotel rooms and villas as well as 98 keys across 42 luxury branded residences available for sale to third party owners.
ActivumSG has been an active investor in European hotels since 2012 and has developed, owned and managed over €1 billion of assets in the sector.
By Jeffrey Weinstein