Alting Real Estate Group closes the sale of the asset at 90-92 Calabria Street, next to Gran Vía in Barcelona, and sells it as an investment product to a Catalan family office.
The group, which always works with the premise of creating real estate value, conceived from the outset a real estate investment product with sustainable long-term returns. The transaction was led by the organization’s asset management department, with support from the other business units: development and consulting.
The product was configured with a hotel focus in mind during the feasibility study phase, a study supported by demand and traffic data in the area. In a second phase of product development, an optimal offering was configured based on location, design, and uniqueness, which allows for overcoming the challenge of a third phase, key to the transaction: finding a growing hotel group with latent demand and a leading position in its segment.
The agreement with the AXEL Hotels Group was reached in the third quarter of 2013. The collaboration between both organizations in defining the final product, as well as the efficiency and agility of Alting’s development department in construction and delivery in July of this year, has enabled the transaction to be concluded, offering a real estate product with short- and long-term returns to the national and international markets. The product was sold to a Catalan family office in less than six months.
Following the successful completion of the transaction, Alting continues its activity, maintaining its focus on creating prime investment products in the national and international markets, in major capital cities such as Madrid, Barcelona, London, and Paris.
PRIMITE REAL ESTATE ASSETS WILL LEAD INVESTMENTS IN 2016
Confirming current real estate data, the group maintains its interest in hotels, as well as offices and retail spaces. For 2016, investment in real estate and the development of residential projects will also be activated, especially in Barcelona and Madrid, through development, renovation, and value creation.
Alting Real Estate Group, with over 35 years of experience creating real estate value, operates with a clear focus on prime assets, both in terms of location and uniqueness.
One of its main hallmarks is its rigor and the provision of comprehensive and effective real estate solutions across all areas of activity – Consulting | Development | Asset Management – with a clear transmission of trust to clients and the market.
For more information, please contact comunicacion@alting.com.
