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Elaia instructs Pérez-Llorca on Mallorca hotel acquisition

Pérez-Llorca advised real estate investment trust Elaia Investment Spain (EIS) on the acquisition of the Hotel Valparaiso in Mallorca for €5.7 million.

 

The acquisition was made with €3m of financing from Banco Popular.

The 2,400 square-metre hotel has been leased to the hotel group Petit Palace on a 36-year contract.

EIS was set up in December 2015 and manages a portfolio of tourism and residential assets with a total value of more than €120 million. The company was floated on the Spanish stock exchange (MAB) in the last quarter of 2017.

Ben Cook

iberianlawyer.com

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