Engel & Völkers: 7Pines Resort in Ibiza and Roxburghe Castle in Scotland are also in the sights of the German fund
Green light to first purchases of the new bottom created by the real estate group German Engel & Völkers Asset Management and by the German investment management company 12.18: it is Ev Leisure Hotel Fund 1, recently launched and specializing in tourism properties for institutional investors. Luxury hotels from all over Europe are in the sights of the German fund: 7Pines Resort Sardinia located in Porto Cervo, 7Pines Resort in Ibiza and Roxburghe Castle in Scotland, all owned by the German investment management company 18.12. The group value is 280 million euros.
“This transaction, states a note from 12.18acting for the fund as both a developer and a hotel operator, is the biggest deal in the German hotel property market in the last twelve months and also one of the ten largest sales processes in the European market in the last two years “. The target value of the Ev Leisure Hotel Fund 1 is 500 million euroswhile interested investors can participate in the fund, structured as a Luxembourg Raif, starting from 5 million euros, according to Pambianconews.
The 7Pines Resort Sardinia is under construction a Baja Sardiniaa locality located in the vicinity of Porto Cervoin the splendid Costa Smeralda. The luxury hotel, which will be part of the “Destination by Hyatt” collection, will be a 5-star hotel surrounded by over 15 hectares of coastline and nature reserve. The facility will open in the summer and will have available 76 rooms and suites, a main private beach and four secluded covesAlso featured will be the Pure Seven Spa, three restaurants and three bars, including the exclusive beach club Cone Club, he reveals Pambianconews.
“There desire to travelhe 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 per cent. Therefore, we are convinced that the launch of the luxury hotel fund has great potential ”.
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