The Arcano Value Added Real Estate II fund, part of Arcano Partners' Alternative Asset Management real estate division, has purchased an industrial building located opposite the Fira de Barcelona to convert it into the first Meininger hotel in Spain, scheduled to open in 2024. Meininger currently has 34 hotels in 24 European cities.
The 6,500 square metre asset is strategically located next to one of Barcelona's most important business hubs. After the acquisition, the building will be converted into a 163-room hotel that will meet the highest sustainability standards.
The industrial building, until recently unused, will be renovated by the L35 architectural firm, which will refurbish and renovate the building to transform it into a state-of-the-art hotel complex.
Its strategic location is a key factor in the project: in addition to having excellent connections to the airport and city centre, it is ideal for accommodating the millions of visitors who attend the world-renowned trade fairs held in Barcelona every year.
"We are really proud to have closed this deal. At Arcano Real Estate we have demonstrated a great ability to identify assets with potential and transform them into first class buildings. It is a great satisfaction to contribute to the improvement and revitalisation of urban environments, while at the same time generating new jobs. It is an honour to have helped Meininger Hotels enter the Spanish market and we look forward to delivering the hotel they are looking forward to starting their journey in our country. We look forward to consolidating our position as their strategic partner for future projects," says Alejandro Adán, Real Estate Partner at Arcano Partners.
"We are very pleased to enter the Spanish market with the opening of the first MEININGER hotel in Barcelona. Arcano has proven to be an experienced partner that not only demonstrates a deep understanding of our product and the value the hotel will bring to the site, but also guarantees very high standards of energy efficiency and sustainability for the conversion of the building. MEININGER's hybrid hotel product will be a major contribution to the local hospitality market. Our concept caters to the needs of families, groups, backpackers and business travellers alike," explains Nicolas Capelle, Vice President Development & Asset Management at Meininger Hotels.
