Azora Capital, the Spanish fund manager, has acquired The Lodge Hotel, located in Porto, from Pluris Investments, a company owned by businessman Mário Ferreira. The transaction has been closed for around 40 million euros.
The hotel has seven floors and 119 prime rooms, including fifty deluxe units, as well as nine suites. The establishment opened its doors in October 2020, although as a result of the effects of the pandemic it did not become fully operational until the end of May 2021.
The operation has been carried out through the Azora European Hotel & Lodging vehicle, which the manager had already used in the purchases of hotel establishments in the Portuguese market carried out in the last year and a half. The purchase of The Lodge represents the company’s fifth hotel asset in Portugal.
The team from Uria Menendez advising on the deal included: Fernando Azofra (pictured) (partner, Real Estate, Madrid); Francisco da Cunha Ferreira (partner, Real Estate, Lisboa); Marta Pontes (partner, Tax, Lisboa), Gonçalo Reino Pires (counsel, Real Estate, Lisboa), Gerard Everaert (senior associate, Tax, Lisboa), Domingos Braga (senior associate, Real Estate, Lisboa), João Fernandes Thomaz (junior associate, Real Estate) and Miguel Faria Ferreira (junior associate, Real Estate).