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Hotel Mojácar was sold for €8.4M
26 March 2020 | Vanessa Sousa

Last Monday REIT Colonial sold Hotel Mojácar located in Andalusia for 8.4 million euro. The identity of the new owner was not disclosed.

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The amount for which the asset was traded corresponds to a «profit of 22% over its cost in December 2019», as revealed by the company in a release sent to the Comisión Nacional Del Mercado de Valores (National Securities Market Commission) this Tuesday.

For the REIT this is a non-core asset since its «focus was and continues to be the prime office segment».

At the end of 2019, the REIT reached a 12.2 billion euro Gross Asset Value, with a set of buildings spread across Madrid, Barcelona and Paris.