Brookfield has acquired the emblematic Hotel Princesa Plaza complex, located on 40, Calle Princesa in Madrid. The asset comprises three buildings and a total area of almost 60,000m² distributed across hotel, retail, office, and parking. The four-star hotel includes 423 rooms with three F&B units and almost 1,000m² of event space. The retail space occupies most of the street floor, with nine units bringing together a total of 8,064m² occupied by recognized brands such as Starbucks, El Corte Inglés and Massimo Dutti. The office area of 5,666m² is currently unoccupied and the car park comprises 14,000m².
The Savills Capital Markets team carried out the selling process of the asset. For Brookfield, this transaction represents a strategic addition to the Selenta platform, which it acquired last year, enlarging its presence in a key market in Spain. The purchase price wasn't disclosed.
