Ibiza Hotel Development
Private Hotel Group
- A private hotel group instructed BBS to arrange a €50m facility to part fund the acquisition and redevelopment of an existing apart-hotel located in a rapidly improving area in Ibiza.
- The 198 key 7 storey hotel was purchased off market from a private vendor and will be redeveloped into a luxury branded resort and beach club over the next 2 years.
- The challenges arranging development finance on a small island are numerous and we need to source finance from a lender that could work with the sponsor and the constraints of the location.
- The deal required swift execution to enable the client to begin the first stage of the development immediately as there is a small window of opportunity to carry out works outside of the tourist season.
- See “Press” section of our website for further details.