Spain: Real estate investment manager ActivumSG has acquired Fairmont La Hacienda, a five-star luxury hospitality asset in Spain’s Costa del Sol.
The newly developed hotel in San Roque was purchased for €175 million (£152 million) from Spanish REIT Millenium Hotels Real Estate (BME: YMHRE) on behalf of ActivumSG Fund VII.
Fairmont La Hacienda opened in February of this year and has 311 keys with seafront views. These are spread across 213 hotel rooms and villas as well as 98 keys across 42 luxury branded residences available for sale to third party owners.
The residences are located in the Fairmont La Hacienda and feature large terraces, private gardens and swimming pools.
The property includes a 22,000-square-foot spa, four pools, seven restaurants, bars, three conference facilities and two 18 hole golf courses.
ActivumSG stated that it was committed to reducing resort’s operational CO2 footprint. This is done through a system of building management, waste reduction and 147 panels.
Saul Goldstein founder and CEO ActivumSG said: “This transaction reflecs our continued conviction in the Spanish hotel sector, which is supported by long-established fundamentals that are further strengthened by longer summer seasons and changing travel patterns.
“Our activity in Spanish hotels, with an emphasis on the luxury and convenience segments, is in line with of our wider thematic focus on the European accommodation sectors, covering living, hospitality and everything in between, where there is a shortage of institutional-quality product relative to investor demand.”
Highlights:
- ActivumSG has acquired Fairmont La Hacienda in Costa del Sol for £152 million.
- The resort will open in February 2025, with 311 keys on the seafront.
- The deal includes 42 luxurious residences with branded names.
- The resort has featured extensive amenities, including a spa, four pools, seven F&B venues, and two golf courses.
- ActivumSG is committed to reducing the carbon footprint of its resort through solar energy systems and waste reduction.
