Urbania completes the works and the sale of a hotel in Alboraya

Urbania completes the works and the sale of a hotel in Alboraya

Urbania Hotel in La Patacona

Urbania has completed, on schedule, the works of a new hotel in the municipality of Alboraya (Valencia) focused on young people and students, located in a privileged enclave: a short distance from La Patacona beach and the University of Valencia. This asset is part of the sale and purchase agreement reached by Urbania, Invesco, Greystar, AXA and CBRE GI in November 2020.

The building has a total area of ​​almost 22,000 sqm, distributed over seven floors more attic and basement, which house 440 rooms. The property also has a restaurant, chill out terrace and recreation areas; as well as a gym, games area, bar and coworking area.

Jeffrey Sújar, Managing Partner of Activos Alternativos at Urbania, commented that «this new hotel exemplifies Urbania's determined commitment to promote the smart living  in our country. A modern building where the concepts ‘life, work (telework), play & learn’ complement each other and provide feedback in the same space. And all this in a very attractive enclave: near the university and next to one of the best beaches in Valencia».

Agreement with Greystar, AXA and CBRE GI

Last November, Urbania and Invesco reached an agreement with Greystar, AXA and CBRE GI for the sale of four properties located in Madrid, Valencia and Malaga, for a total of 145 million euros. Upon signing the agreement, the residence located in Paseo de la Habana in Madrid, which is already in operation, was handed over and forward purchase agreements were established for the three remaining assets.

The company is immersed in the development and promotion of new projects in Spain and Portugal, focused both on residential for students (with a pipeline of 2,000 beds under development), as assets of coliving, coworking, residential for seniors and build to rent.

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