Mazabi invests more than €20M in acquisitions

Mazabi invests more than €20M in acquisitions

Through its REIT Silicius Real Estate, the management company concluded the acquisition of a newly built four-star hotel in Menorca. Estimated at more than 20 million euro, the asset has 128 rooms and no tenants. Now that the operation is concluded, Silicius is already negotiating an imminent leasing contract with several of the main hotel chains and operators.

The hotel is located on the Biniancollet development, next to Biniancolla beach, at the end of the San Luis municipality. The hotel can be accessed by the road connecting San Luis to S'Algar. It is located on the beach front, in an irregular terrain following a slightly elevated green area.

The hotel features a pedestrian promenade to access the beach. Common areas such as the swimming pool and the gardens are located at the centre of the building. Both the materials and the finishes as well as the vegetation that surrounds the hotel are native to the Island.

Mazabi also concluded the purchase of a 200.000 sqm farm, located at the island of Formentera. This terrain includes 400 sqm in built areas which will be rehabilitated. The assets will be used for rental housing.

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