Swiss Life buys the Axel hotel in Barcelona for €30M

Swiss Life buys the Axel hotel in Barcelona for €30M

Swiss Life Asset Managers have acquired the property that supports the Axel Hotel in a sale&leaseback operation valued at around 30 million euros, according to sector sources. Swiss Life has carried out the operation through its Sivav-Sif European Hotel fund, which last May and closed the purchase of a hotel in Lisbon and in July, one in Paris.

The Axel Hotel Barcelona is an establishment focused on the homosexual public and, in general, the LGBTQI+ community. It is located in Calle Aribau, very close to the center of Barcelona, and in the heart of the Eixample of Barcelona. It has a category of four stars and 101 rooms.

The hotel opened its doors in 2003 by the man of the business owner Juan Julià, owner of the chain and the property, which has now been transferred, even though he will maintain the management of the establishment. Sources of the sector estimate that the operation will provide Swiss Life with an annual return of between 5% and 5.5%.

“The leisure tourism should benefit from a quick recovery in comparison with the business segment and, therefore, with this acquisition we want to take advantage of the reputation that we have seen since this summer in the main European cities”, comments Johanna Capoani, executive de Swiss Life Asset Managers.

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