AXA pays €70M and completes the purchase of Hotel Diagonal Mar

AXA pays €70M and completes the purchase of Hotel Diagonal Mar


Referred as one of the most important hotels in Barcelona, and one of the most important in Spain in this final straight of the year, the deal would have already been agreed between the two parties in the summer, when AXA made the first investment.

Located in Barcelona's homonymous quarter, the four-star Hotel Diagonal Mar is 400 meters away from the beach, offering 413 rooms and 20 suites, as well as an event hall with a capacity of 1000 people and 15 meeting rooms. The building was promoted by Iberdrola Inmobiliária, after having reached an agreement with the hotel chain Hilton, which manages the hotel.

With this transaction, AXA reinforces its interest in Spanish hotel real estate, a sector where recently also invested in the purchase of the Cine Rex building on Gran Via, in Madrid, and for which it paid €40 million.

Iberdrola, although it has discarded one of the jewels of its real estate portfolio, still owns a portfolio with more than 200,000 m² of GLA, valued at more than €600 million.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!