Deka Immobilien has sold the Jumeirah Port Sóller Hotel & Spa in Mallorca. Dubai Holding LLC has acquired the property from the portfolio of the open-ended real estate fund WestInvest InterSelect on the Spanish island. The purchase price was not disclosed.
The property on the northwest coast of the island comprises the hotel with 121 rooms, 15 of which are suites, 58 parking spaces and an adjacent undeveloped plot of land, which can be used as a local recreation and nature reserve as well as to a limited extent for agriculture. Deka Immobilien acquired the property in 2007. It is leased on a long-term and full basis to Jumeirah Port Soller Mallorca, S.L. The 5-star hotel is Platinum certified with the Leadership in Energy and Environmental Design (LEED) standard.
With the sale, the fund management is taking advantage of the strong demand for such hotel properties in Mallorca to divest itself of the luxury hotel as part of its active portfolio management. In addition, it generates a high sales profit for investors.
