Post by All About Hospitality

Engel & Völkers buys 7Pines Hotels & Resorts Sardinia, 7Pines Ibiza and Roxburghe Estates Castle Hotel. The first purchases of the new fund created by the German real estate group Engel & Völkers Asset Management and by the German investment management company 12.18. It is called Ev Leisure Hotel Fund 1, recently launched and specialized in tourist properties for institutional investors. Three of the first properties acquired by the fund that focuses on luxury hotels in Europe: 7Pines Resort Sardinia, 7Pines Resort Ibiza, and Roxburghe Castle in Scotland. All hotels belong to the portfolio of the German investment management company 18.12., A group with a value of approximately 280 million euros. "This transaction - states a 12.18 note, which acts for the fund as both a developer and a hotel operator - is the largest deal in the German hotel property market in the past twelve months and also one of the ten largest sales processes in the market. of the last two years ". The target value of the Ev Leisure Hotel Fund 1 is 500 million euros. Interested investors can participate in the fund, structured like a Luxembourg Raif, starting at 5 million euros. Regarding the 7Pines Resort Sardinia, the 5-star is under construction near Porto Cervo. The resort is located in Baja Sardinia, surrounded by 15 hectares of coastline and nature reserve. The facility will open this summer, with 76 rooms and suites, a main private beach and four secluded coves. There will also be the Pure Seven Spa, three restaurants and three bars, including the Cone Club, an exclusive beach club. This resort will be part of the “Destination by Hyatt Hotels Corporation” Collection. “The desire to travel - comments Jörg Lindner, managing partner of 18.12. - is uninterrupted despite the pandemic. The fact that many people crave a vacation in a first-class destination is also demonstrated by our corporate data from last season: 12.18. he was able to raise rates on all of his properties and at the same time have high occupancy rates. At 7Pines Resort Ibiza, for example, the rate increase was 21 percent. Therefore, we are convinced that the launch of the luxury hotel fund has great potential ”. #sales #hotel #construction #travel #property #restaurants #hotels #like #luxury #realestate #europe #data #developer #assetmanagement #people #investmentmanagement