• The new built asset is valued at more than 20 million euros and is almost on the beachfront
  • The acquisition is part of MAZABI’s SOCIMI strategic growth plan

Madrid, 10 February 2021 SILICIUS Real Estate, SOCIMI (Spanish REIT) of Mazabi’s group specialised in long-term property management with stable rents, has closed the acquisition of a newly built hotel in Menorca, a four-star hotel -built with the standards of a five-star hotel- and with 128 rooms. This operation is part of the company’s strategic plan to further strengthen its asset portfolio prior to its IPO (Initial Public Offering).

The asset is valued at more than 20 million euros but is not currently leased. Now, the company is negotiating with several hotel chains and operators regarding the imminent signing of a rental contract for the property.

The hotel is located in Biniancollet urbanization, nest to Biniancolla beach, in the municipality of Sant Lluís. It can be accessed by the road that connects Sant Lluis with S’Algar. This tourist area in the South of Menorca is considered one of the most accessible, as it is located just 5.5 km away from Sant Lluis, 11 km from Mahon and 13 km from Menorca Airport. Specifically, it is located almost on the beachfront, on a plot of irregular topography -with significant slopes- after a slightly elevated green area, which has frontline buildings.

The hotel, which has 128 rooms, overlooks the sea and has a pedestrian promenade that gives access to the beach, at a distance of just five minutes. The building occupies the entire plot where it sits, leaving in the centre a central space for common areas such as the poll and the gardens. The materials, the finishes and the vegetation surrounding the hotel are native to the island.

After the acquisition was formalized, SILICIUS Managing Director, Juan Diaz de Bustamante, stressed that “this operation is part of the company’s goal of continuing to grow, through the acquisition of diversified assets located in strategic areas, before being listed on the stock exchange”. “We are very happy with this purchase, as it is a four-star hotel, newly built, and located in one of the areas with greatest tourist potential of Spain”.

This operation has been formalized just a few weeks after SILICIUS increased its capital by the end of December through the non-monetary contribution done by Liberbank, Ltd. Of the Arista office building in Rivas Vaciamadrid, Madrid, which has a GLA of 45,100 sqm and 1,200 parking lots.

Previously, in October, the company has already closed a €19,7 million capital increase operation after acquiring Ibérica Inmobiliaria through a merger by absorption, with the incorporation of three new assets in its portfolio: two retail parks in Parque Oeste, Alcorcón, and Las Matas building, all located in Madrid.

Press mentions