Post by M&G

We’ve completed our first dedicated hotel investment for the M&G European Property strategy, with the acquisition of Travelodge Poblenou in Barcelona.    The c.€50m investment marks another step in building a diversified, resilient real estate portfolio across Europe.  Acquired on behalf of the €4.8bn M&G European Property platform, the acquisition reflects the strategy's selective approach to entering a new sector where strong fundamentals can support potential long term performance. The transaction was led by Federico Bros Tejedor, Director of Investments & Asset Management for Iberia at M&G Real Estate, and Simon Ellis, Portfolio Manager of the M&G European Property strategy.  Located in Poblenou, one of Barcelona’s fastest growing business districts, the 250 room hotel benefits from strong transport links, long term leasing and solid sustainability credentials in a supply constrained market. The transaction builds on a recent €239m investment into living assets in Barcelona and Madrid, taking our real estate exposure in Iberia to around €1.2bn.  Read more about the investment via the link in the comments.