Be Mate Partners with Q Capital for €100m European Expansion

Date: March 2018

Location: 10 buildings/locations across Europe

Name: Be Mate

Be Mate Plaza Espana, Madrid, Spain

Owner: Be Mate has signed a €100m (£87.7m) partnership agreement with Q Capital to open up to ten new apartment buildings, across Europe, in the next three years with a particular focus on London.

The holiday rental property company will purchase the buildings in capital cities across Europe including London as well as its established base in Madrid alongside Paris and Rome.

The apartment buildings will be targeted at medium and long-terms stays as well as corporate clients. Be Mate currently operates a similar model for its apartment building in Madrid, the Plaza de España Skyline by Be Mate building which includes 37 apartments with parking space.

The company also has apartments across Europe including in Amsterdam, Florence and Barcelona as well as in Miami and New York.

Kike Sarasola, founder of Be Mate Group and its principal backer Room Mate Hotels, said: “We are delighted with this partnership with Q Capital. It is undoubtedly a big step in the growth of Be Mate. Exclusive building management is one of our main objectives in the coming months”.

Room Mate has the Room Mate Grace Hotel in NY, as well as 23 hotels across Spain, Netherlands, Italy, Turkey, Mexico and the Netherlands.

Q Capital is a real estate management and development company which develops the direct investment activity of Spanish firm Qualitas Equity Partners.

THPT Comment: Not sure about the name, but clearly a successful company in the boutique hotel space and now serviced apartments.

First Seen: Aura