Valencian group purchased hotel Arco de San Juan in Murcia

Valencian group purchased hotel Arco de San Juan in Murcia

Hotel Arco de San Juan in Murcia was sold to a Valencian group for 8.5 million euro. The operation was concluded at the beginning of the month in Madrid, according to La Opinión de Murcia.

The iconic hotel had its doors closed for more than a year, following three decades of activity. The establishment belonged to the family of marqués de Mondéjar which had already had the intention to sell the property.

In fact, the asset had been offered to several investment funds and different hotel chains at a higher price: 11 million euro. The final closing price includes the 1.3 million euro loan connected to the building.

The building can be used as a hotel or as a housing building, the new owners do not yet know which option they will select, whether luxury apartments and penthouses, or remain as a hotel.

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!