LaSalle Investment Management has acquired NH Collection Gran Hotel Calderon located on Paseo de Gracia near Ramblas de Cataluña in the Ensanche district of Barcelona.
The hotel has been purchased in a sale-and-leaseback with NH Group on behalf of Encore+, LaSalle’s flagship pan-European fund, for a price said to be around €125 mln.
The 5-star NH Calderon hotel features 225 guestrooms.
David Ironside, fund manager of Encore+ at LaSalle said: ‘This was a rare opportunity to acquire one of the leading hotels in Barcelona, a city which has been of the strongest and fastest growing hotel markets on the continent. As we diversify geographically and increase our exposure to the alternatives sector, this asset will contribute to the Fund performance.’
NH Hotel Group will continue to operate the hotel, which had undergone an extensive refurbishment in 2016.
LaSalle was advised by Hogan Lovells for Legal and Tax, JLL Hotels & Hospitality Group as a commercial advisor and Hollis Global for Technical. NH Hotel Group was unrepresented.