Date: October 2018
Location: Valdebebas, an urban development to the northeast of Madrid, Spain
Name: B&B Madrid – opening 2021
No. of Keys: 150
Seller: Filasa, traditionally an office and residential developer. Been going 65 years…doing some work for the Bahia Palace in Palma
Buyer: The hotel chain B&B Hotels – owned by the fund PAI Partners, with 350 hotels (30 in Spain) in continental Europe – is arriving in Valdebebas with the objective of opening the first hotel in that urban development.
To this end, the French chain has signed an agreement with Filasa, the owner of the land on which the establishment will be built, for the rental of the plot in Valdebebas for a minimum period of 10 years.
Two buildings are going to be constructed on the plot, which has a buildable surface area of 8,000 m2. The first, which will span a surface area of 4,400 m2 and be shaped in a stepped-structure, will house the 150-room hotel.
The second, which will span 3,200 m2 and take the form of a cube, will be used for offices. This property will also have a premise measuring 400 m2.
THPT Comment: The name belies the size! B&B at 150 rooms…a 10-year lease…interesting
First Seen: Aura