Union Investment has acquired a hotel in Barcelona, Spain, which opened in November 2018 under the Barcelona 1882 brand and will be converted to a Radisson Blu as part of the acquisition process. The hotel is located close to the famous basilica of the Sagrada Familia. Due for completion in just a few years after being under construction for 144 years, the basilica is the most visited landmark in Barcelona. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Europa. The vendor is Partners Group, a leading global private markets firm, acting on behalf of its clients.
The Radisson Blu Barcelona Sagrada Familia has 182 guest rooms as well as a restaurant, a bar, two meeting rooms, a gym and a pool on the roof terrace, which provides a breathtaking view of the Sagrada Familia. A 25-year lease has been signed with Radisson Hotel Group. The hotel has LEED sustainability certification in Gold and an EPC A rating, meaning that the purchase is taxonomy compliant.
This is Union Investment’s second hotel in Barcelona and in the UniImmo: Europa portfolio. Back in 2013, the Hamburg-based real estate investment manager acquired the Barceló Raval, whose elegant curves make it one of the most stylish addresses in Barcelona. In total, Union Investment holds 80 hotels worldwide with a total value of around EUR 5.2 billion.
Source : Union Investment