Ikos International Debuts in Spain
- Mar 22, 2018
HFF has secured $135 million in first-mortgage financing on behalf of Ikos International for the acquisition and redevelopment of Ikos Andalusia, a 400-key luxury hotel in Estepona, Spain. The company placed the five-year, floating-rate loan with Starwood Capital European Finance Partners Ltd., an affiliate of Starwood Capital Group.
This transaction marks the first Ikos International acquisition in the country. The seven-building property will include features such as more than 180,000 square feet of gardens and leisure facilities, eight restaurants, a theatre, more than 43,000 square feet of heated indoor and outdoor swimming pools and a spa. According to Magazine of Travel, Ikos International will operate the all-inclusive hotel, which will be led by partners Andreadis and Marhieuu Guillemin, with the support of international investors such as Goldman Sachs Management, Oaktree Capital Management and Hermes.
Ikos International plans to implement a renovation plan that will include reconstructing and refurbishing all existing hotel rooms, the lobby and public spaces, as well as rebranding the property as the Infinite Lifestyle concept of the Ikos Resorts brand. The hotel is slated to open in May 2020.
Director Brad Greenway and Managing Director Edward Daubeney were part of the debt placement team that represented the borrower. In another recent transaction, HFF represented a partnership in the acquisition of a Virginia full-service hotel.