Stoneweg has prevailed in the process of selling the Los Monteros hotel in Marbella, in the province of Malaga, according to El Confidencial.
Specifically, Stoneweg, co-founded by Jaume Sabater and Joaquín Castellví, has submitted an offer of 47 million euros for the property, inaugurated six decades ago.
The fund has already reached an agreement with the owners, the heirs of the Moroccan Judas Azuelo, and with the asset's creditors, the US entity JP Morgan and the US fund Marathon.
The plans go through closing the establishment next September, when the summer season ends, to subject it to a reform that will last until mid-2023, when it will reopen in the hands of a large international chain.
The Los Monteros hotel has the only five-star luxury spa in the most exclusive area of Marbella, as well as the La Cabane beach club.
The 47 million euros that Stoneweg is going to pay for the property means valuing each of the 173 hotel rooms at more than 271,000 euros.