JLL advises LaSalle on the sale and leaseback of NH Collection Barcelona Gran Hotel Calderon
5-star hotel on Paseo de Gracia featuring 225 guestrooms sold for €125.5m
JLL has advised La Salle on the acquisition of NH Collection Barcelona Gran Hotel Calderón, a five-star hotel on Paseo de Gracia. The 225-bedroom hotel was acquired for €125.5m through a sale and leaseback structured deal.
This asset marks the second hotel in LaSalle’s current portfolio. NH Hotel Group will continue to operate the hotel, which had undergone an extensive refurbishment in 2016.
Francesco Coviello, Head of Transactions - CEE and Southern Europe, LaSalle, commented: “We are excited about this acquisition – Spain continues to remain a sought-after hotels market in Europe and the NH Collection hotel in Barcelona is excellently located to attract tourists and good footfall.”
Ana Ivanovic, Hotels and Hospitality, JLL commented: “Despite the obvious challenges that the hospitality industry has faced over the course of the last 15 months, this deal is testament to the fact that investors’ confidence in the sector has not staggered. Core assets in key locations continue to attract significant volumes of capital. The scarcity of quality product in combination with Barcelona’s strong fundamentals are expected to attribute to the market’s recovery post Covid-19.
JLL’s Hotels & Hospitality Group is the industry leading advisor and over the last five years has completed transactions totaling $83 billion worldwide, and across EMEA, JLL advised on €13.4 billion of hotel sales over the same period. JLL’s hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
NH Hotel Group was unrepresented.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.