Spanish REIT Millenium Hotels buys the Melía hotel in Bilbao

As informed to the Alternative Stock Market (MAB) on Friday, Millenium Hotels Real Estate has paid €49.2 million for the Meliá Bilbao hotel located in the city’s coveted Abandoibarra neighbourhood on the estuary and in a privileged location between the Palacio Euskalduna and the Guggenheim Museum.

The property fronts Richard Stern’s Zubiarte shopping centre on one side and the Doña Casilda park on the other and is walking distance from the historic city centre. It is also situated next to the Iberdrola Tower amongst other important offices making the hotel an ideal location for both cultural and business trips.

The 5-star hotel has a total built area of ​​19,623m2 with 211 rooms and three restaurants offering an extensive healthy breakfast, tapas, pintxos and cocktails in the Q Lounge and mediterranean cuisine at Quatre as well as basque cuisine at the Aizan restaurant. The hotel also includes a wellness centre with over 200 m2 of space including a fully equipped gym, heated semi-outdoor pool with great views, saunas and beauty and health treatments.

The fund has bought the asset using its own resources in addition to a loan for a total amount of €24.6 million euros.

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