The Canadian fund manager Brookfield Asset Management finalizes the purchase of the Palladium Costa del Sol hotel in Benalmádena, Malaga from the British fund Benson Elliot.
Specifically, the transaction has materialized through the purchase of the company Bensell Benalmádena, which has been renamed Selenta Benalmádena.
The hotel, which is valued at just over 41 million euros, was until now operated by Benson Elliot through a management contract with the Palladium hotel group. Said contract will remain in force after the acquisition of the asset by Brookfield.
The Palladium Costa del Sol, which will start its summer season in less than 20 days, has 336 rooms, including 11 suites. Its facilities include two swimming pools, four bars, five restaurants and a spa.
Benson Elliot bought the hotel, formerly called Playa Bonita, in November 2017. Until then, the rental property corresponded to Senator Hotels & Resorts. After the acquisition, the British fund signed a management agreement with Palladium Hotel Group, which reopened the property in September 2019 after a major refurbishment.
According to Brainsre.news, the operation is underway and will close above 50 million, although Brookfield declined to comment.