Merlin Properties sells its hotels portfolio to Foncière des Regions for 535 million euros

Merlin Properties sells its hotels portfolio to Foncière des Regions for 535 million euros

The portfolio comprises 19 hotel assets owned by Merlin, among which can be found such emblematic hotels as Eurostars Grand Marina in the port of Barcelona, the NH Collection in the plaza Colón de Madrid and the hotel Barceló Torre Madrid in Plaza España, recently renovated and which will open its doors in January. The portfolio comprises 3.645 rooms mainly in urban hotels, situated principally in Madrid and Barcelona and operated on a rental basis to prestige operators such as NH, Barceló, Eurostars, Grupo Meliá and AC.

Among the assets forming part of the sale can be found the hotel Eurostars 5* of the Torre Castellana 259 in Madrid and the Novotel de Diagonal 199 in Barcelona, both thought of as side by side with office blocks strategically important to Merlin.

Similarly, on the 28th December, Merlin sold the Merlin Ayuntamiento in Madrid, an office block of 18.655 m2 which houses the headquarters of Economía and Hacienda situated in the calle Alcalá 45 for the sum of 104 million euros. 

During 2016 the company has sold assets totalling 121.7 million euros including the shopping centre Grande Armée in Paris, the commercial complex Centre del Mon in Perpignan (which includes a hotel) and various subsidiaries of BBVA.

The total number of disinvestments completed in 2016 rose to 761 million euros, correspondent to a 7.1% premium comparing to the previous publicised assessments, generating added value of 51 million.

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