• The final closing of the deal is expected to be in mid-December.
• The operation strengthens the business model and consolidation of RLH Properties, based on the acquisition and development of high-end hotel and tourism projects.
• The purchase of Hotel Villa Magna is part of the growth strategy of RLH Properties and it consolidates the company’s position as a leading owner of hotels in the high-end segment in Mexico and Spain.
• It is one of the largest purchases of a hotel property in Spain in the last decade.

MADRID, Nov. 26, 2018 /PRNewswire/ — The investment company RLH Properties (BMV: RLHA), founded by BK Partners, today announced the acquisition of Hotel Villa Magna, an emblematic luxury hotel located in the center of Madrid, for €210 million from the Doğuş Group.

The deal is scheduled to close in mid-December and reinforces the business model of RLH Properties, an international property company listed on the Mexican Stock Exchange (BMV) focused on ownership of branded hotel and residential assets, in the luxury segment.

According to Jerónimo Bremer, President of the Executive Committee of RLH, and founding partner of BK Partners, “This operation represents an important milestone in our strategy of investing in unique real estate assets for the hotel sector. The acquisition of Hotel Villa Magna, one of the most representative of Europe in the luxury segment, also confirms our enormous confidence in the Spanish market, one of the most dynamic and attractive in the world. ”

As stated by Borja Escalada CEO of RLH Properties and partner of BK Partners, “The purchase of Hotel Villa Magna is the first step in our international expansion, with an emblematic luxury hotel located in the best area of Madrid. This, together with our proven experience in the management of this type of real estate assets, has great potential to create shareholder value. Therefore, we believe that this transaction is excellent news for our investors and shareholders and we hope to be able to announce new investments in Spain and Europe soon.”

RLH Properties enters into the Spanish market

The Villa Magna hotel, founded in the 1970’s on the Paseo de la Castellana in Madrid, was born to compete as a modern establishment compared to other hotel offers and to lead the luxury segment. Historically it was managed by Hyatt. It was completely remodeled in 2009.

RLH Properties is currently the owner, among other assets, of the Four Seasons Hotel in Mexico City, the Rosewood Mayakoba Hotel, Banyan Tree Mayakoba, Andaz Mayakoba, Fairmont Mayakoba, the PGA El Camaleón golf course and the Mandarina Development, which includes the Hotel One & Only Mandarina, currently under construction, Hotel Rosewood Mandarina, in development, along with residential developments.

On the buyer’s side, Credit Suisse has acted as the financial advisor, and P rez-Llorca, as the legal advisor; and on the side of the seller, JLL, as the real estate investment adviser, and Clifford Chance, as the legal advisor.

About RLH Properties, S.A.B. de C.V.

RLH Properties (www.rlhproperties.mx) is a company whose subsidiaries are engaged in the acquisition, development, and management of hotel assets in the city and beach resorts within the luxury and ultra-luxury segments. Its main objectives are to create the leading luxury hotel platform, through the development of new hotels and the selective acquisition of hotels with an active management.

About BK Partners

BK Partners (www.bk-partners.com) , whose partners are Allen Sangines-Krause, Jerónimo Bremer, Juan Bremer, and Borja Escalada, is an investment firm dedicated to the creation of investment vehicles and companies in in order to capture specific market opportunities within the hotel, real estate, and renewable energies sectors. BK Partners aim is to create leading companies through active and direct management, focused on the creation of value and growth of expert teams. BK Partners has sponsored vehicles that currently have, assets close to 2,500 million US dollars.

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SOURCE RLH Properties