The deal is scheduled to close in mid-December, and reinforces the business model of RLH Properties an international property company listed on the Mexican Stock Exchange, focused on ownership of branded hotel and residential assets in the luxury segment.
According to Jerónimo Bremer, President of the Executive Comitee of RLH, and founding partner of BK Partners, «this operation represents an important milestone in our strategy of investing in unique real estate assets for the hotel sector. The acquisition of Hotel Villa Magna also confirms our enormous confidence in the Spanish market, one of the most dynamic and attractive in the world».
Borja Escalada, CEO of RLH Properties and partner of BK Partners, comments that «the purchase of Hotel Villa Magna is the first step in our international expansion, with an emblematic luxury hotel located in the best area of Madrid. This has great potential to create shareholder value. We believe that this transaction is excellent news for our investors and shareholders, and we hope to be able to announce new investments in Spain and Europe soon».
Source: RLH Properties