The Canadian manager Brookfield finalizes the purchase of the Hotel Madrid Princesa from Colony Capital (former Colony NorthStar) for 175 million euros.
The four-star hotel complex has 409 rooms and 14 suites. Promoted in 1976, it has 1,500 square meters for meeting and event rooms. The property totals 35,000 square meters.
The asset is located at Calle Princesa 27, in the Arguelles neighbourhood.
The hotel was promoted by Metrovacesa, which sold it in 2010, after the real estate bubble burst. The Lebanese investor Boutros El-Khouri, through CPI, acquired the complex; but, in 2018, sold it to Colony Capital.
In between, between 1991 and 2015, it was managed by the Joan Gaspart chain, under the name of Husa Princesa. From that moment on, it is controlled by Marriott, under the name Hotel Courtyard by Marriott Madrid Princesa.
Now, Brookfield increases its exposure to the Spanish hotel market, just one year after starring in one of the great operations of the year 2021, the purchase of the Selenta chain. Brookfield acquired the Sofia Barcelona hotel, Expo Barcelona, Don Carlos Resort & Spa (Marbella) and Mare Nostrum Resort (Tenerife) for €440 million.