La Finca has acquired the Madrid Chamartín Affiliated by Meliá hotel from Azora for almost €60 million, according to El Confidencial. The transaction adds an urban asset to the property group’s portfolio in one of Madrid’s areas undergoing the greatest transformation, driven by the Madrid Nuevo Norte development.
The three-star hotel has 199 rooms and a built area of 13,962 sqm, distributed across a basement, ground floor and 13 upper floors. Meliá Hotels International continues to operate the property under its Affiliated by Meliá brand, a model that allows the hotel to retain independent management while accessing the hotel group’s commercial channels.
Azora acquired the property from Meridia Capital in March 2023 for €34.6 million, in a transaction that also included two adjacent retail units and 94 parking spaces. The deal generated an estimated €7.5 million capital gain for the seller, which had acquired the asset alongside Colonial in 2019 for €27.5 million.
The change of ownership comes just over three years after Azora’s acquisition, against the backdrop of significant urban transformation planned for northern Madrid. In addition to its proximity to Paseo de la Castellana, the hotel is located opposite Chamartín-Clara Campoamor station, whose redevelopment is one of the main projects linked to Madrid Nuevo Norte.
