While still preparing the paperwork, the company decided to renew its board, appointing José María Castellano, ex-vice-president of Inditex Group and who also became a shareholder of the company, as proprietary director.
This appointment, in particular, meets the REIT’s CEO Javier Illán’s mid-term goal of entering Madrid’s continuous market, reports El Confidencial.
The REIT’ board also has two independent members: Jaime Montalvo, Mutua Madrileña’s vice-president and Isabel Dutilh, founding partner at Argali Abogados.
To carry forward the listing at MAB, the company’s new board approved this month a 300 million euro capital increase, in order to acquire more assets.
Currently, the company has a portfolio which includes five luxury hotels: two operating in Madrid and three under rehabilitation, two of which in Seville and one in Bilbao.