The initiative includes an additional investment aimed at improving the hotel’s NOI, after which its market value would exceed $500 million.

The Spanish consortium formed by NORTIA and MAZABI, within the framework of the joint venture created with Panghea Capital Partners and White Bridge Capital for the development of investments in the United States, has taken a 45% stake in the hotel, while its local partner Gencom has acquired the remaining capital.

The company acquires a package of 19 tourist flats in an aparthotel managed by Pierre & Vacances and Accor located next to the Eiffel Tower.

It makes its fifth acquisition in the London office market, worth €17 million, and has open offers on four other properties.

It leases a 1,286 m2 office building in the financial heart of Amsterdam to a multinational company.

These operations are in addition to the recent hotel investment in New York, driving the geographical diversification of its asset portfolio.

Through a joint venture, they acquire a 25% stake in the InterContinental New York Times Square hotel, located in the heart of Midtown Manhattan.

Local partners Gencom and Highgate participate in the operation by purchasing the remaining 75%. After investing over $30 million in renovating the hotel, the asset could reach an average market value of $425 million.

The company has signed a lease agreement with restaurant operator Hanazono, which will occupy a 1,200 m2 space.

It has also announced the upcoming opening of Sould Park Bowling, in a space of more than 2,500 m2 in the same retail park.

The project continues to advance in its commercial and strategic consolidation, strengthening the park’s offering and its appeal to operators and neighbours.

The transactions include the LETOH LETOH Gran Vía Hotel (Madrid), with 90 rooms; the Room Select Tetuán (Seville), with 74 rooms; and the Soho Boutique Puerto Hotel (El Puerto de Santa María, Cádiz), with 101 rooms.

Following these divestments, MAZABI retains a hotel portfolio consisting of 17 assets, valued at over 400 million euros.