This five-star, 465-room property was previously the flagship asset of Joan Gaspart’s hotel group. The deal, which had been under technical review since late last year, is valued at 180 million euros, as confirmed by the law firm Cuatrecasas, which advised the buyers. A joint venture has been set up in which Axa will have a majority stake, according to sources familiar with the transaction.
Until now, the Sofia hotel was owned by the Canadian fund Brookfield, which incorporated it with the acquisition of the Selenta chain from businessman Jordi Mestre in 2021 for 440 million euros. Until now, the establishment was managed by Selenta, which in turn had a franchise agreement with the US group Hyatt, which operated it under the Unbound Collection brand. The hotel is currently undergoing renovations and is expected to reopen in 2024. The expected investment in this process is estimated at between six and ten million euros.
Pérez-Llorca’s team was formed by; Corporate: partner Alejandro Osma and lawyers José Ángel Nabal, Aurora Vázquez, Diego Narbona; Banking & Finance: counsel Isabel Villa; Tax: partner José Azqueta and lawyer Viktoriya Petkova; Urban Planning: planning Alberto Ibort, and lawyer Álvaro Fernández-Novel; IP/TMT: lawyers Alicia Maddio and Andrea Sánchez.
On the other hand, Garrigues advised Axa with a RE team led by partner Héctor Muñoz (pictured left), who counted on the support of principal associate Blanca Jiménez Aparicio, a Tax team led by partner Gonzalo Rincón (pictured centre) and senior associate Guillermo Avilés and a Commercial team led by partner Renata Mendaña (pictured right) along with senior associates Clemente Mateo and Marcos Alejandro Cardona.
Cuatrecasas advised Blasson Property with a team formed by Corporate partners Ignacio Escrivá de Romaní Morales-Arce (top left) and Joaquín Garaulet (top right), Corporate and RE counsel María Igea Arriazu (bottom left) and Real Estate associate Erik Serrano Morales (bottom right).
