GS Bacares Iberia acquires Hotel Nômade Madrid for 105 million euros

Hotei Properties Group Socimi has finalized the sale of the building housing the Hotel Nômade Madrid to GS Bacares Iberia for 105 million euros. GS Bacares Iberia is a company primarily owned by the international fund Nômade Partners SCSp.

The asset, which was already being operated by the buyer under a lease agreement, is a historic building designed by architect Cesario Iradier in 1917. Located at the intersection of Gran Vía and Alcalá in Madrid, the hotel features 93 rooms. The transaction represents a cost of over 1 million euros per room.

The deal includes a variable price component of up to 10 million euros, contingent on the establishment meeting specific gross operating profit targets over the next three years. For Hotei Properties, the sale is expected to generate an estimated capital gain of 8 million euros and provides liquidity to its shareholders. For the buyer, the acquisition secures long-term control of a flagship property and reinforces its presence in the Spanish high-end hospitality market.